USD/CHF has shown a massive selling after Fed minutes meeting. The pair declined till 0.97950 after Fed minutes showed concerns over weak inflation. The Swiss franc was trading high against higher against all major excep…
USD/CHF has shown a massive selling after Fed minutes meeting. The pair declined till 0.97950 after Fed minutes showed concerns over weak inflation. The Swiss franc was trading high against higher against all major except Euro on account of increasing safe haven demand.
On the lower side, near term support is around 0.97730 (support turned into resistance) and any break below will drag the pair to lower level till 0.97730 (resistance turned into support)/0.9745/0.9705. The pair should break below 0.9705 for further weakness. It has taken support near 200 –day EMA and any daily close below confirms minor weakness.
The near term resistance is around 0.9850 (233- day MA) and any violation above will take the pair to next level till 0.9875/0.9900. It should break above 0.9950 for further jump till 1.00380.
It is good to buy on dips around 0.9795 with SL around 0.9750 for the TP of 0.9870/0.9900.
