USDCHF - Temporary Buy at .9635 and .9606. Stop .9574, Thursday
A renewal of Asian selling yesterday confirmed our bearish call. But the resulting downside lacked the momentum to break below the overnight low and, towards the end of the day, more significant profit taking resulted. Net gains were not extensive, but enough to end a sequence of 5 down days and although Asia has seen modest downside, our studies are left positive. So, temporarily, our call for this morning is a Buy from 7am but leaving room to also Buy any Dip to .9606. The risk is .9574, yesterday's afternoon low, with an immediate target of .9669, Asia’s top. A move through that point then exposes sentiment to .9695 and .9717, Friday’s Marabuzo line.
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