FxWirePro: USD/CHF breaks minor trend line resistance, good to buy on dips
Major resistance- 0.9680 (trend line joining 0.97028 and 0.96946). Major support: 0.9630 (Jul 29th low). The pair has formed almost a double bottom around 0.9630 and slightly jumped from that level .it is currently tradi…
Major resistance- 0.9680 (trend line joining 0.97028 and 0.96946).
Major support: 0.9630 (Jul 29th low).
The pair has formed almost a double bottom around 0.9630 and slightly jumped from that level .it is currently trading around 0.96813.
On the higher side, any break above 0.9680 will take the pair to next level till 0.9745/0.9790 in the short term. The pair should close above 0.9860 (200 day MA) for further bullishness.
Technically the low made on Jul 29th is acting as major support and slight weakness can be seen only below that level.
Any break below 0.9630 will drag the pair down till 0.9580/0.9525.Further weakness can be seen only below 0.9500.
It is good to buy on dips around 0.9670 with SL around 0.9630 for the TP of 0.9745/0.9790.
