FxWirePro: USD/CHF trade Idea

• USD/CHF has once again shown a decline after hitting high of 0.96355. The pair’s upside is limited to 0.9650 as geo political tension increases demand for safe haven assets like Swiss franc and yen. Overall trend of Swiss franc is slightly bullish on US airstrikes on Syrian chemical weapon facility.  It is currently trading around 0.9599.
   
• US, British and French air strikes launched almost 105 missiles overnight at the heart of Syria’s chemical weapons program. Donald Trump said in twitter “Mission accomplished”. Market eyes US retail sales data for further market movement. The near term resistance is around 0.9660 and any convincing break above will take the pair to next level till 0.9700/0.9725/0.9745.
   
• On the lower side near term support is around 0.9580 and any break below that level targets 0.9520/0.9480/0.9420.The pair should break below 0.9420 for further weakness.            

It is good to sell on rallies around 0.9625-30 with SL around 0.9660 for the TP of 0.9530/0.9500.

 Resistance

R1-0.9660
 

R2 –0.9700
 

R3- 0.9745

Support               
 

S1-0.9580
 

S2-0.9520
 

S3- 0.9480