USDCHF: 0.9391
US$Chf fell sharply from just above 0.9400 to a low of 0.9347 before grinding back towards the highs by the end of Friday’s session, leaving the outlook largely unchanged.
1 hour/4 hour indicators: Mixed.
Daily Indicators: Turning higher
Weekly Indicators: Turning lower
Preferred Strategy: The daily charts are turning higher so looking to buy dips towards 0.9350 seems to be the plan at the start of the week, hoping for a continuation of the current recovery, eventually towards 0.9470 and possibly on to 0.9500.
On the downside, support will be seen at 0.9335/50 ahead of 0.9290/0.9300.
Buy US$Chf @ 0.9340. SL @ 0.9285, TP @ 0.9465
| Resistance | Support | ||
| 0.9500 | Minor | 0.9355 | Daily Tenkan |
| 0.9500 | 8 Feb high | 0.9347 | Friday low |
| 0.9450 | Minor | 0.9335/39 | 200 HMA /7 Feb low |
| 0.9425 | Minor | 0.9300 | Minor |
| 0.9408 | Friday high | 0.9250 | 2 Feb low |
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