Yesterday's report highlighted an underlying positive tone but an absence of buy signals. That proved correct as trading in USDCHF was muted Tuesday. An early decline found fresh demand near Thursday’s Marabuzo line and the 13 day mvg avg. That bounce did not translate into significant upside but it is the weakness of selling interest that ensures our technical bias is bullish, especially after demand in Asia. So, this morning’s call is Buy at .9955 but leaving room to also buy a .9934, Asia’s low, dip. The risk is .9898 with upside targets of .9978, yesterday's high, .9999 and 1.0019.
Marabuzo Line
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