USD/CHF broken the low of 0.97244 made in the previous week and declined till 0.96918 yesterday and hits fresh 8- week low. It is currently trading around 0.97125. The pair has formed major top around 1.03435 and decline…
USD/CHF broken the low of 0.97244 made in the previous week and declined till 0.96918 yesterday and hits fresh 8- week low. It is currently trading around 0.97125.
The pair has formed major top around 1.03435 and declined sharply from that level. The pair is facing strong trend line support at 0.9720 (trend line joining 0.90786 and 0.95493) and any further bearish continuation can be seen only below that trend line. The near term major support is around 0.96788 and break below targets 0.96170.
On the higher side near term resistance is around 0.9760 and any break above will take the pair till 0.9820 (support turned into resistance)/0.9860.The pair is neutral phase for the long term and it should break above 1.03435 for further bullishness.
It is good to buy on dips around 0.9675-0.9680 with SL around 0.9620 for the TP of 0.9760/0.9815.
