- Major intraday Resistance -0.9920 (trend line joining 0.99777 and 0.99356)
- USD/CHF has formed a temporary top around 0.99777 and started to decline from that level. The pair declined till 0.98909 and is currently trading around 0.99200.
- The pair breaks intraday trend line resistance at 0.99200 and jumped till 0.99245. Any hourly close above trend line will take the pair to next level till 0.99356/0.9975.
- Market awaits US FOMC meeting to be held today for further direction.
- On the lower side, major support is around 0.9880 (233- HMA) and any break below will drag the pair to next level till 0.9845/0.9805. Short term bullish invalidation only below 0.9705.
It is good to buy on dips around 0.9918-0.9920 with SL around 0.9880 for the TP of 0.9980/1.000.
