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24/04/2014: I have just sold USD/CHF at 0.88306

As I alluded to in today’s morning report, I see this dollar rally as having rolled over now. I like the way Dollar/Swiss is now increasingly putting pressure on the support of the uptrend and momentum indicators are deteriorating. I see this continuing for the coming days and I have used this intraday jump as a chance to sell. I see the intraday uptrend being broken and a retreat to test 0.8775 at least.

I have placed my stop at 0.8870 (40 pips) which is above Tuesday’s high at 0.8861 and would confirm a resumption of dollar strength.

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