USDCHF: Neutral

Jim Langlands FX Charts

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

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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