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 joinin…
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.
