FxWirePro: USD/CHF Trade Idea

• USD/CHF has recovered after hitting low of 0.96683 on Friday. The pair has formed a minor bottom at 0.95650 on Sep 15th 2017 and trading higher from that level. It is currently trading around 0.97419.
   
• Short term trend is still bullish as long as support 0.9630 (55- day EMA) holds. Any break below will drag the pair down till 0.9580/0.9525/0.9500. Overall bearish continuation can be seen only below 0.9420.The minor support is around 0.9590 (20- day MA)/0.9550.
• The near term resistance is around 0.97730 and any convincing break above will take the pair to next level till 0.9808/0.9866 (200- day MA).

It is good to buy on dips around 0.9680 with SL around 0.9630 for the TP of 0.97730

 

Resistance
               

R1- 0.9773

 

R2 0.9808
 

R3-0.9845
 

Support               
 

S1- 0.9680
 

S2-0.9630
 

S3-0.9580