- USD/CHF declined sharply after showing a minor jump till 0.96960 yesterday. The pair is still weak as long as resistance 0.9770 holds.
- Any break above 0.9770 will take the pair till 0.9845 (38% retracement of 1.03435 and 0.9550) /0.9887 (100- day MA)/0.9950 (200- day MA).
- Overall bearish invalidation can happen if the pair breaks above 1.03435.
- On the lower side, near term support is around 0.9600 and any violation below will drag the pair till 0.9580/0.9546 in the short term.
It is good to sell on rallies around 0.9645-0.9650 with SL around 0.9700 for the TP of 0.9550.
