FxWirePro: USD/CHF breaks strong trend line resistance at 0.9750, jump till 0.9850 likely

• USD/CHF is consolidating between 0.97474 and 0.96419 for the past four trading session. USD/CHF has formed a minor bottom around 0.96419 and showing a minor recovery from that level. The weakness in Swiss franc is capped due to escalation of geopolitical tensions between North Korea and U.S. The pair is trading slightly above 0.9700 and is currently trading around 0.97629.
   
• Short term trend is still bullish as long as support 0.9630 (233-4H MA) 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 minor support is around 0.9590 (20- day MA)/0.9550.
   
• The near term resistance is around 0.9750 (trend-line resistance ) and any convincing break above will take the pair to next level till 0.97730/0.9808/0.9845.

It is good to buy on dips around 0.9680 with SL around 0.9630 for the TP of 0.97730/0.9808.