Implications and Outlook
1. Swissy last week jumped higher crossing the psychological Key Resistance at 1.00490, and completed Currency Rally. However, failed to close above here and could be in need of additional price consolidation near-intermediate term.
2. Current price action has created the value of the intermediate-term Mean Resistance 1.00240, which is signifying the downward movement towards Mean Support of 0.99020.
3. USD/CHF dip lower should be contained by the Mean Support 0.99020 which signifies the July low. Failure here will signal a slide towards additional Mean Support laying just below at 0.98740, and Key Support of 0.98030.
4. Current Currency Strategy Bias: Bearish 70 / Bullish 30
1. Swissy last week jumped higher crossing the psychological Key Resistance at 1.00490, and completed Currency Rally. However, failed to close above here and could be in need of additional price consolidation near-intermediate term.
2. Current price action has created the value of the intermediate-term Mean Resistance 1.00240, which is signifying the downward movement towards Mean Support of 0.99020.
3. USD/CHF dip lower should be contained by the Mean Support 0.99020 which signifies the July low. Failure here will signal a slide towards additional Mean Support laying just below at 0.98740, and Key Support of 0.98030.
4. Current Currency Strategy Bias: Bearish 70 / Bullish 30