FxWirePro:USDCHF Trade Idea

Candlestick pattern- Doji (4 hour chart)

Major support - 0.9910 (200- day MA)

USDCHF has halted its 2-week of bearish trend. The pair hits low of 0.99265 and shown a good recovery of more than 50 pips and hits intraday high of 0.99886. The jump in Swiss franc was due to broad based US dollar buying and easing trade war tension.It is currently trading around 0.99830.

On the higher side, near term major resistance is around 1.0030 and any major bullishness only above that level. Any break above targets 1.00680/1.010. Any major trend reversal only above 1.01285.

The near term support is around 0.9950 and any violation below targets 0.9910-0.99050 (200- day MA).

It is good to buy on dips around 0.9975-80 with SL around 0.9925 with TP of 1.00680.

Resistance

 R1- 1.0030

R2 -1.00680

R3-1.010

Support               

S1- 0.9950

S2- 0.9900

S3- 0.9860