USD/CHF has once again declined sharply after hitting high of 0.97598. USD/CHF hits low of 0.96950 at the time of writing. The upside in USD/CHF has been capped by geo political tensions and is currently trading around 0…
USD/CHF has once again declined sharply after hitting high of 0.97598. USD/CHF hits low of 0.96950 at the time of writing. The upside in USD/CHF has been capped by geo political tensions and is currently trading around 0.97088.
Major economic data to be released today afternoon is Swiss KOF economic barometer.
Short term trend is still bullish as long as support 0.9640 (55- day EMA) holds. Any break below will drag the pair down till 0.9580/0.9565/0.9525. Overall bearish continuation can be seen only below 0.9420.
The near term resistance is around 0.97730 (Aug 8th 2017 high) and any convincing break above will take the pair to next level till 0.9808/0.9845/0.9900.
It is good to buy above 0.9770 with SL around 0.9730 for the TP of 0.945/0.9900.
