FxWirePro: USD/CHF break short term trend line support, dip till 0.9735 likely
USD/CHF formed a minor top around 1.01700 at Mar 17th 2017 and declining continuously from that level. It is currently trading around 0.98483. The low formed on Jan 31st 2017 around 0.98611 was acting as major support an…
USD/CHF formed a minor top around 1.01700 at Mar 17th 2017 and declining continuously from that level. It is currently trading around 0.98483.
The low formed on Jan 31st 2017 around 0.98611 was acting as major support and any break below will drag the pair down till 0.97850/0.9730.
On the higher side, 0.9900 will be acting as minor resistance. The pair should break above 0.9960 for further bullishness. Any break above 0.9960 will take the pair till 1.0000/1.0060 in the short term.
Overall bearish invalidation only above 1.03430.
It is good to sell on rallies around 0.9850-55 with SL around 0.9900 for the TP of 0.9785/0.9730
