FxWirePro: USD/CHF breaks major resistance at 0.9770, jump till 0.9900 likely

• USD/CHF has once again gained sharply yesterday after hitting a low of 0.96700. The pair has broken major resistance at 0.97730 the high made on Aug 8th 2017. The upside in USD/CHF was mainly duet strong US dollar index on increasing expectations of FED rate hike has been capped by geo political tensions and is currently trading around 0.97730.
   
• DXY has broken major resistance of 93.67 confirms minor bullishness, a further jump till 94.60 likely.
   
• Short term trend is still bullish as long as support 0.9649(55- day EMA) holds. Any break below will drag the pair down till 0.9580/0.9565/0.9525. Overall bearish continuation can be seen only below 0.9420. The near term support is around 0.96900.
   
• The near term resistance is around 0.97730 (Aug 8th 2017 high) and any convincing break above will take the pair to next level till 0.9808/0.9845/0.9900.

It is good to buy on dips around 0.97650 with SL around 0.9720 for the TP of 0.9900.