FxWirePro: USD/CHF Trade Idea

• USD/CHF formed a bottom at 0.96910 and shown a minor recovery till 0.9807. The pair has broken the low of 0.96918 and declined till 0.96690. Any close below 0.9691 confirms bearish continuation of and decline till 0.9617 likely.
   
• Any minor bullishness can be seen only above 0.98080 and jump till 0.9850/0.9900 is possible above that level. The minor resistance is at 0.9740 (10- day MA)/0.9760.
   
• On the lower side support is around 0.9665 and any break below will drag the pair till 0.9635/0.9617/0.9600 (50% projection of 1.0100-0.9692 measuring from 0.9808).

It is good to sell on rallies around 0.9725-0.9730 with SL around 0.9765 for the TP of 0.9635/0.9617

Resistance
                   

R1-0.9740
                               

R2 -0.9808
 

R3- 0.9845
 

Support   
 

S1-0.9665
 

S2-0.9630

 

S3-0.9617