USD/CHF is consolidating after hitting high of 0.7974 from the low of 0.96997 made on Jan 2nd 2018. Swiss franc was trading weak for the week on strong global appetite. The pair shown a 30 pips declined after slightly we…
USD/CHF is consolidating after hitting high of 0.7974 from the low of 0.96997 made on Jan 2nd 2018. Swiss franc was trading weak for the week on strong global appetite. The pair shown a 30 pips declined after slightly weaker than US non-farm data. But slight improvement in wage growth will support USD price. It is currently trading around 0.9825.
Intraday trend is still bullish as long as support 0.9730 holds.
On the higher side, near term resistance is around 0.9780 (200- H EMA) and any break above will take the pair to next level till 0.9845/0.9900/0.9970 (Dec 8th 2017 high)/1.000. It should break above 1.0040 for short term bullishness.
The near term support is around 0.9735 and any close below that level will drag the pair to next level till 0.96990/ 0.9635/0.9600.
It is good to buy on dips around 0.9770 with SL around 0.9730 for the TP of 0.9845/0.9900.
