17.04.201414:56:00UTC+00Bullish Dxy and Usd/chf

Quotes from BofA Merrill Lynch Global Research:

- We reiterate our bullish USD Index vie Price action from the 79.33, Apr-10 lows is very encouraging for USD Bulls. The gains have occurred impulsively. This says that the pullback from Apr-04 highs at 80.59 is finished and the medium, potentially long term uptrend is resuming. 79.87 resistance should be seen as temporary ahead of the 100d at 80.34 and beyond. We reiterate our upside target of 81.74/87 and eventually beyond.

- Furthermore, the gains from 79.33 allow us to raise our bullish reassessment level to the 79.33 low from the 79.26 low. We continue to favor expressing this bullish USD Index view through USD/CHF longs; targeting 0.9208/9266 and beyond. .

- A break above 0.8850 would confirm a near tem base and turn higher and allow us to raise our stop to 0.8740 from 0.8695.