FxWirePro: USDCHF Trade Idea

Candlestick pattern- Doji and Shooting star

Major resistance  0.9950

USDCHF was consolidating in narrow range after massive recovery from low of 0.95421. The pair hits high of 0.9955 and shown a minor decline of more than 50 pips today on account of geo political tensions in Italy and trade war worries between US and China has increased demand of safe haven currencies like Yen,Swiss franc. The pair hits low of 0.9855 and is

currently trading around 0.98821.

On the lower side, near term support is around 0.9855 (23.6% fib) and any break below targets 0.9815 (89- day EMA)/0.9755 (20- day MA).

The near term major resistance is around 0.9955 and any violation above will take the pair till 1.000/1.00681. The pair should break above 1.00680 for further upside.

It is good to sell on rallies around 0.9905-0.9910 with SL 0.9960 for the TP of 0.9815/0.9755.

R1- 0.9955
 

R2 - 1.000

R3- 1.00680

Support               

S1- 0.9855

S2- 0.9815

S3- 0.9780