USD bears became disheartened Thursday, when the Swissy surged out of a daily support zone, moments after falling to new lows. Pair remains wedge bound, but yesterday's Hammer reversal and developing Inverse Head and Shoulders pattern bolster the case for a break higher. Bulls will be looking to push the pair toward the inverse neck zone between .9810 & .9845. A daily close below Wednesday's open at .9694 would invalidate.
Comment:
Pair traded as high as .9784 on Friday before falling back to 9750 at the close. Remains bullish absent a daily close below Friday's open, .9724
Comment:
Pair rejected well before target zone - bullish bias invalidated