Yesterday's report highlighted an underlying positive tone but an absence of buy signals. That proved correct as trading in USDCHF was muted Tuesday. An early decline found fresh demand near Thursday’s Marabuzo line and the 13 day mvg avg. That bounce did not translate into significant upside but it is the weakness of selling interest that ensures our technical bias is bullish, especially after demand in Asia.
We look to buy near .9955 and at .9934
The risk is .9898 offered with targets at .9978, .9999 and 1.0019
Closes at 4pm London time