Weak bounce keeps USDCHF sentiment negative
For a third day in succession there was limited net movement in USDCHF on Tuesday. To a great degree this was off the back of a stronger CHF and is limiting the rally from last week's five-week lows.
Price action does not provide strong signals for sentiment and so a good deal of caution needs to be applied to analysis. Nonetheless the weakness of this bounce and a strong CHF means that sentiment remains assessed as negative.
Management and risk description
A move to 0.9616 means the stop can be lowered to break even.
Entry: Sell in the 0.9640/45 area and any rally to 0.9670.
Stop: 0.9708 bid.
Target: 0.9616, 0.9598 and 0.9578.
Time horizon: Intraday; ends 1600 BST (1500 GMT) on Wednesday June 15.
Non-independent investment research disclaimer applies. Read more