USDCHF: Mildly Bearish

USDCHF: 0.9897

Preferred Strategy:
US$Chf had a tough session in falling hard, in line with the move in the Euro, and finishing near the day’s low of 0.9881.

The 4 hour/daily momentum indicators are warning of further losses ahead, which if correct would target 0.9865/70, and below there could see a run towards 0.9835 and 0.9800.

The topside currently looks a little limited, but a good US CPI could see a run back towards 0.9940 and to the session high of 0.9970, and then possibly back towards parity although the momentum indicators don’t really suggest such a move.

Further out, given the positive look of the weeklies, if we can eventually take out 1.0015/25 we could then head on to take another look at 1.0035/40, above which there is little to hold the dollar up ahead of 1.0100, and beyond that to 1.1025 and 1.0170.

24 Hour: Mildly Bearish   Medium Term: Prefer to buy dips  
FX Charts Position: Long – SL @ 0.9840.    
Resistance   Support  
1.0017 9 Nov high 0.9881 Session low
0.9986 13 Nov high 0.9868 25 Oct low
0.9970 Session high 0.9850 Minor
0.9940 Minor 0.9830/35 23 Oct low/100 WMA
0.9925 Minor 0.9800 (38.2% of 0.9420/1.0037)



All content on this website, (FX Charts PL) is a personal view only and offers absolutely no guarantee as to the correctness or otherwise of that opinion. The content here is of a “general nature” only and does not constitute personal or investment advice. The FX Charts website is not an inducement to trade Foreign Exchange (FX). No liability whatsoever is accepted for any loss or damage that may result, directly or indirectly, from any , comment, opinion, information or omission, whether negligent or otherwise, within the FX Charts Website. The information and any opinion or outlook expressed in this commentary may be based on assumptions or market conditions and may be liable change at any time, without notice.