USDCHF: Neutral

USDCHF: 0.9754

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  
Resistance   Support  
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

 

USDCHF

 

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