Major support - 0.9850
USD/CHF is trading weak after a long consolidation between 1.00434 and 0.99031 for past 8 days. The pair breaks major support 0.9900 and declined till 0.98692 at the time of writing. It is currently trading around 0.9878.
The pair has closed below trend line support yesterday and any continuous close below confirm will drag the pair down till 0.9828 (100- day MA)/0.9755 (200- day MA).
The near term resistance is around 0.99168 (23.6% fib) and any break above will take the pair to next level till 0.9946 (20- day MA)/0.9978 (Jul 27th 2018).1/1.00450. The pair should break above 1.00680.
It is good to sell on rallies around 0.9900-05 with SL around 0.9950 for the TP of 0.9755.
Resistance
R1- 0.9905
R2 –0.9950
R3- 1.000
Support
S1- 0.9850
S2- 0.9800
S3-0.9755
