FxWirePro: USD/CHF trade idea

• USD/CHF was highly volatile in European session. The pair declined sharply almost 40 pips from the high of 0.95990. The minor profit booking in this pair was mainly due to new trade war worries between US and China. U.S has imposed 25% trade tariffs for 1300 products including industrial technology, transport and medical property. The pair hits low of 0.9550 and shown a minor recovery. It is currently trading around 0.95853.
   
• The near term resistance is around 0.96000 and any convincing break above will take the pair to next level till 0.9600/0.9660.
   
• On the lower side major support is around 0.9550 and any break below 0.952/0.9500/0.9450.The pair should break below 0.9420 for further weakness.       

It is good to buy on dips around 0.9570 with SL around 0.9520 for the TP of 0.9660/0.9700.

Resistance
 

R1-0.9600
 

R2 – 0.9660
 

R3- 0.9700

Support               
 

S1-0.9550
 

S2- 0.9520
 

S3- 0.9450