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- Swiss Franc was trading slightly higher against all majors as increased demand for safe haven demand asset. US trade war with other major economies is supporting price of CHF.USD/CHF has shown a minor correction of more than 50 pips after a jump till 0.99923 yesterday.
- CHFJPY breaks minor trend line resistance at 111.25 and hits intraday high of 111.45. Intraday trend is bullish as long as support 110.80 (200- H MA) holds. Any hourly close below 110.80 will drag the pair down till 110.30/110.15.
- The near term resistance is around 111.50 and any violation above targets 112/112.20.
It is good to buy on dips around 110.95-111 with SL around 110.70 for the TP of 112/112.20
Resistance
R1- 111.50
R2 –112
R3- 112.20
Support
S1- 110.80
S2-110.30
S3-110
