FxWirePro: USD/CHF Trade Idea

• USD/CHF shown a minor decline below 0.94274 low made on Aug 29th 2017. The pair recovered after hitting low of 0.94210.
   
• In the weekly chart, the pair has formed bullish divergence in RSI and CCI. So a slight jump till 0.9630 likely.
   
• On the lower side, any break below 0.94210 will drag the pair down till 0.93450 /0.93000.
   
• The near term resistance is around 0.9516 (23.6% retracement of 0.97730 and 0.94210) and any break above will take the pair till 0.9560/0.9595/0.9630. Minor bullishness can be seen above 0.9630.

It is good to buy on dips around 0.9450-0.9455 with SL around 0.9420 for the TP of 0.9516/0.9560.

 

Resistance
               

R1- 0.94850

 

R2 0.9516
 

R3- 0.9580
 

Support               
 

S1-0.9420
 

S2-0.93425
 

S3-0.9300