USD/CHF is trading flat after a 685 pips dip from high of 0.99770 made on Dec 8th 2017. The pair hits low of 0.9288 and is currently trading around 0.93170. The pair is consolidating between 0.9288 and 0.94308 for the pa…
USD/CHF is trading flat after a 685 pips dip from high of 0.99770 made on Dec 8th 2017. The pair hits low of 0.9288 and is currently trading around 0.93170.
The pair is consolidating between 0.9288 and 0.94308 for the past three trading session. USD/CHF upside is capped by 7- day MA (0.9443) and 23.6% fib at 0.94513 for further upside.
On the lower side, major support stands at 0.92800 and any break below confirms further weakness. Any break below will drag the pair down till 0.9197 (161.8% fib).
The near term resistance is around 0.9443-0.9450 and any short term reversal only above that level.
In the daily chart CCI has formed bullish divergence and RSI is in over sold region. So minor jump till 0.9400-0.9420 will be taken as opportunity to sell. But for intraday traders it is good for buy at lower levels.
It is good to buy on dips around 0.9300 with SL around 0.9250 for the TP of 0.9400/0.9435.
