Dollar-Swiss had a very weak week as it lost a lot of ground from 0.9259 to 0.9080. It also gave a break below 0.9070 which made us think that the 0.9070-9400 range has been broken but then a strong bounce seen in the later part of Friday which made the pair close above 0.9070. It is not clear if 0.9070-0.9400 range is broken or not. Also the earlier support of 0.9080 on the monthly charts has now moved to 0.9070. Hence if we see the pair holding 0.9070 support and bouncing from here then a rally towards 0.9160 and 0.9300 can easily be seen. On the other hand if 0.9070 is broken strongly then a further fall towards 0.9000, 0.8930 and 8850 can then become possible. Going forwards it is though to say which one of these will happen, we will have to wait and watch before we take any positions. The short term charts are looking oversold and a short covering rally to 0.9160-80 cannot be ruled out after which the chances of a fall back to 0.9070 and a break of it can then be seen. Wait and watch.
Take Shorts if it turns down from 0.9160.