FxWirePro: USDCHF Trade Idea

Major Intraday resistance -0.9850-55

USDCHF has shown good recovery of more than 100 pips from low of 0.97162 made on Jan 10th 2019. The pair was trading weak from Dec 26th till Jan 10th on account of global stock market turmoil. The slight easing of trade war between US and China is supporting USDCHF. The pair hits intraday high of 0.98502 and is currently trading around 0.98482.

The near term major intraday resistance is around 0.9850-55 and any convincing break above targets 0.9880/0.9925. Any break above 0.9925 will take the pair to next level till 0.9965/1.0010/1.00680.

On the lower side, near term support is around 0.9790 and any violation below will drag the pair to next level till 0.9735/0.9700.

It is good to buy on dips around 0.9845-50 with SL around 0.9800 for the TP of 0.9925.

Resistance

R1- 0.9855

R2 - 0.9880

R3- 0.9925

Support               

S1- 0.9790

S2- 0.9735

S3- 0.9680