USD/CHF is consolidating in narrow range after forming temporary top around 0.98345. Intraday trend of the pair is still bullish as long as support 0.9705 resistance turned into support holds. It is currently trading aro…
USD/CHF is consolidating in narrow range after forming temporary top around 0.98345. Intraday trend of the pair is still bullish as long as support 0.9705 resistance turned into support holds. It is currently trading around 0.97606.
On the lower side, any break below 0.9705 confirms that jump from 0.9420 ends at 0.98345 and a decline till 0.9580/0.9500 is possible. Overall bearish continuation is possible only below 0.9420.
The near term resistance is around 0.97730 and any violation above will take the pair to next level till 0.9808/0.9845.
In the four hour chart the pair has formed bullish divergence and a slight jump till 0.9835 is likely. Any violation above 0.9835 will take the pair to 0.9990 (61.8% fibo).
It is good to buy on dips around 0.9730-35 with SL around 0.9700 for the TP of 0.9800/0.9835.
