In line with this week's outlook, buying interest was attracted to USDCHF yesterday. This renewed attempt to consolidate above 1.0000 overturned Friday’s profit taking setback and although demand faltered near last week's highs, the market is increasingly willing to buy setbacks. Cautious still needs to be applied to this currency pair but our technical studies are mildly positive.
We look to Buy in 1.0010/15 area and any .9994 dip
Targets are 1.0036, 1.0052 or even 1.0069
The stop is .9962 offered
Closes 4pm London time