USDCHF .9694 – bullish – Probes 8-day down trendline with scope for higher
USDCHF rallied strongly off last Friday’s .9527 low (September 18, 2015, near 200 day moving average) to reach .9740 (September 21, 2015 high), just shy of the 76.4% retracement of the .9832/.9527 fall. Intraday bullish momentum suggest scope remains for further gains through .9762 (September 15/16, 2015 highs) to open the .9823 lower high (near the 6-month triangle resistance area). Monday’s .9643 low (September 21, 2015) should hold dips. Only a break below here would delay and expose .9568/.9527 (September 1/18, 2015 lows).
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
USDCHF rallied strongly off last Friday’s .9527 low (September 18, 2015, near 200 day moving average) to reach .9740 (September 21, 2015 high), just shy of the 76.4% retracement of the .9832/.9527 fall. Intraday bullish momentum suggest scope remains for further gains through .9762 (September 15/16, 2015 highs) to open the .9823 lower high (near the 6-month triangle resistance area). Monday’s .9643 low (September 21, 2015) should hold dips. Only a break below here would delay and expose .9568/.9527 (September 1/18, 2015 lows).
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
