USD/CHF - 0.9869.. Although dlr initially resumed its recent erartic rise last week n hit a 3-month peak of 0.9966 on Mon, broad-based usd's decline on profit taking knocked the pair to 0.9740 Fri (AUS) b4 rebounding to 0.9877.

On the bigger picture, dlr's impressive rise fm Jan's near 6-year bottom at 0.8758 to 0.9472 on the 1st day of Apr due to rally in U.S. yields suggests erratic fall fm 1.0344 (2016 peak) to retrace LT rise fm 2015 record 0.7360 low has ended n despite subsequent 1-year long monthly sideways swings, dlr's rally abv 0.9472 in Apr to a near 3-year peak of 1.0064 (May) indicates price would head twd 1.0128. Despite subsequent fall to 0.9372 in early Aug, dlr's rally back to 0.9869 in early Sep, then to a 3-month 0.9966 high last week suggests correction over n as 0.9747 had contained retreat, upside bias remains. Abv 0.9966 would head twd 1.0064. Only weekly close below 0.9740 risks 0.9579.

Today, dlr's rally fm 0.9740 to 0.9877 on active buying in eur/chf cross suggests pullback fm 0.9966 has possibly ended, a daily close abv 0.9900 would add credence to this view n head back twd 0.9966, current rising hourly indica tors sugnal buying on dips is favoured n only below 0.9780 risks 0.9740.

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AceTrader Team

AceTrader

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