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Add as a preferred source on Google FxWirePro: Sell USD/CHF on rallies 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…
By FxWirePro Team Jul 12, 2017, 9:34 AM UTC
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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.
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