(0,9278) The USD/CHF formed on Friday a small positive day reversal after the selloff we had on Thursday. However, only a daily closing tonight above 0,9290 will confirm a s/t bottom supporting a recover, at least toward the 200 days line, now again resistance 0,9352!! The weekly closing was however positive. The indicators of the daily chart are still well negative as well as those of the weekly one suggesting further downside pressure/ risk. The indicators of the s/t charts are mixed this morning suggesting some consolidation/ correction. The move up toward 0,9400 formed clear bearish divergences suggesting a positive tone; however Friday’s extension of the drop already started forming bullish divergences suggesting already a new change of the tone. We have however also positive reversals. While above the 200 hours line at 0,9268 we expect the dollar to recover somehow; however only an hourly closing above 0,9310 will support higher levels!! We stay on the sideline for now
Read the full report: USDCHF 08.19
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