- USD/CHF recovered overnight as Fed delivered the widely expected rate hike. The pair jumped after hitting low of 0.96450 and is currently trading around 0.97393.
- Fed increased interest rates by 25bpbs from 1% to 1.25% and maintained its interest rate projections unchanged for 2017 and 2018.
- Technically the pair has been facing strong resistance around 0.97350 (21- EMA) and any close above will take the pair till 0.9780/0.9808 (May 30th 2017 high).
- On the lower side, major support is around 0.9615 and any break below will drag the pair down till 0.9580/0.9520 (161.8% retracement of 0.9614 and 0.97393).
It is good to buy on dips around 0.9700 with SL around 0.9640 for the TP of 0.9808.
