(0,9316) The USD/CHF formed on Friday a negative day reversal but this morning it already confirmed a new high in respect to Friday suggesting further upside potential toward the 200 days line, still at 0,9344. The weekly closing was strong, above the top of the previous week while the monthly one was also positive forming a positive month reversal. Further strength is therefore possible. The indicators of the daily and monthly charts are positive while those of the weekly one still remain below the line for now. The indicators of the s/t charts are showing a mixed picture this morning suggesting further consolidation/ correction. bearish divergences in the hourly chart support however a positive tone. We suggest waiting for a possible correction toward the 200 hours line, now found still only at 0,9242, to go long this dollar. We buy a 0,9260 undershooting!!
Read the full report: USDCHF 09.02
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