FxWirePro: Sell USD/CHF below 1.0060
Tuesday, April 11, 2017 11:30 AM UTC
- USD/CHF formed minor top around 1.01078 on Apr 10th 2017 and declining from that level. The pair declined till 1.00616 and is currently trading around 1.00707.
- On the lower side, any break below 1.0600 (trend line joining 0.9834 and 1.00144) will drag the pair down till 1.000/0.9960/0.9934 (200- day MA).
- The near perm resistance is around 1.0120 (76.4% retracement of 1.0170 and 0.98135) and any break above targets 1.0170 (Mar 7th 2017 low). Any close above 1.0170 will take the pair till 1.03450.
- Minor bullish invalidation only below 0.9800 level.
It is good to sell below 1.0060 with SL around 1.0120 for the TP of 1.000/0.9960.