USD/CHF has recovered slightly till 0.95944 after hitting low of 0.9550. The downside is capped by 0.9548 and any break below confirms further weakness. It is currently trading around 0.95737. The pair near term support …
USD/CHF has recovered slightly till 0.95944 after hitting low of 0.9550. The downside is capped by 0.9548 and any break below confirms further weakness. It is currently trading around 0.95737.
The pair near term support is around 0.95480 (Nov 9th 2016 low) and any break below will drag the pair till 0.9520 (Jun 23rd 2016 low)/0.9490.It should break below 0.94430 (May 3rd 2016 low) for long term trend reversal.
Bearish invalidation can be seen only above 0.97708 (Jun 15th high). Any break above this level will take the pair till 0.9850/0.9900. The minor resistance is around 0.9650/0.9680.
Overall bearish invalidation only above 1.0345.
It is good to sell on rallies around 0.9640 with SL around 0.9680 for the TP of 0.9555/0.9520
