Monday, March 31, 2014

Trade Idea: USD/CHF - Hold long entered at 0.8800

Dollar's retreat after Friday's brief rise to 0.8899 suggests further consolidation would be seen but as long as 0.8834-41 support holds, prospect of another rise remains, above said resistance at 0.8899 would extend the rise from 0.8699 low to 0.8906 (previous resistance) but reckon 0.8935 (61.8% Fibonacci retracement of 0.9082-0.8699) would hold from here.



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