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Chart pattern- Flag
USDCHF has broken major Flag pattern resistance 0.99200 after a long consolidation. The pair was trading between 0.99553 and 0.98478 for past one week. It hits high of 0.99593 and is currently trading around 0.99371.
The near term resistance is around 0.9960 and any break above targets 1.000/1.00680.
On the lower side, any major weakness cane be seen only below 0.98500 and convincing break below targets 0.9780/0.9720.
It is good to buy on dips around 0.9920-25 with SL around 0.9850 for the TP of 1.00680
Resistance
R1- 0.9960
R2 - 1.000
R3- 1.00680
Support
S1- 0.9850
S2- 0.9780
S3- 0.9725
