USDCHF – Supported by Key Averages, 1.0019 targeted
Yesterday’s report highlighted an underlying positive tone but an absence of buy signals. That proved correct as trading in USDCHF was muted Tuesday. An early decline found fresh demand near Thursday’s Marabuzo line and the 13 day mvg avg . That bounce did not translate into significant upside but it is the weakness of selling interest that ensures our technical bias is , especially after demand in Asia. So, this morning’s call is a Buy in .9955/60 area but leaving room to also buy a .9934, Asia’s low, dip. The risk is .9898 offered with upside targets of .9978, yesterday’s high, .9999 and 1.0019.