USDCHF: 1.0064
US$Chf is a little lower today after a relatively tight 1.0053/1.0115 range.
While the dailies still look mildly constructive, the short term momentum indicators are pointing a little lower so a retest of the session lows would seem possible, below which we might head back towards minor support at 1.0020 ahead of the 1.000 pivot. Below here may be tricky, but if wrong we would break below the rising trend support and could see a run back to the 17 Feb low of 0.9965. On the topside, resistance will be seen at the session high ahead of the 1.0140, 22 Feb high. Beyond there will see decent sellers at 1.0160 and at 1.0200, although this looks likely to be delayed for a while. Buying dips still seems to be the plan given that the dailies look positive, but keep a SL below 1.0000.
| 24 Hour: Mildly bearish – Prefer to buy dips | Medium Term: Prefer to buy dips | ||
| Resistance | Support | ||
| 1.0200 | Minor | 1.0053 | Session low /200 HMA |
| 1.0160 | (61.8% of 1.0343/0.9861) | 1.0023 | 21 Feb low |
| 1.0140 | 22 Feb high | 1.0010 | 20 Feb low /Rising trend support |
| 1.0115 | Session high | 0.9965 | 17 Feb low |
| 1.0085 | Minor | 0.9950 | Minor |
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