USD/CHF is trading flat with positive bias after more dovish Swiss central bank. The pair jumped almost 100 pips from the previous week low of 0.98399. US dollar prices are supported by tax bill which will be passed this…
USD/CHF is trading flat with positive bias after more dovish Swiss central bank. The pair jumped almost 100 pips from the previous week low of 0.98399. US dollar prices are supported by tax bill which will be passed this week. But no much movement is expected as holiday season going to start next week. The pair hits high of 0.99345 and is currently trading around 0.99021.
On the higher side, near term resistance is around 0.99250 (trend line joining 0.9977 and 0.99345) and any break above will take the pair to next level till 0.9977 (Dec 8th 2017 high)/1.000. It should break above 1.0040 for short term bullishness.
The near term support is around 0.9865 (20 day MA) and any violation below that level will drag the pair to next level till 0.9810 (200 – day EMA)/0.9770/0.9735.
It is good to buy above 0.9925 with SL around 0.9865 for the TP of 1.000/1.00380.
