Preferred Strategy: US$Chf has had a choppy session while waiting on the US CPI, due later today. The charts are mixed but in the medium term, as before, I still like the dollar higher, looking for a return towards 0.9800 and eventually for a run towards parity although it will take a decent CPI figure to see us make any headway. A close above the 200-DMA (0.9850) would help extend the uptrend – patience may be required! Wait for the CPI but prefer to be long rather than short.
|24 Hour: Neutral||Medium Term: Prefer to buy dips|
|0.9850||200 WMA||0.9755||Session high|
|0.9835||200 DMA/(61.8% of 1.0099/0.9420) /6 Oct high||0.9711/10||Session low/4 Oct low|
|0.9807||9 Oct high||0.9685||Minor|
|0.9789||10 Oct high||0.9676||2 Oct low (38.2% of 0.9420/0.9836)|
|0.9763||Session high||0.9642||25 Sept low|
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