FxWirePro: USD/CHF consolidates after hitting low of 0.95230, good to sell on rallies

• Near term trend - down
   
• USD/CHF downside has been paused after hitting low of 0.95237 and shown a minor recovery from that level. It has jumped till 0.9565 level. It is currently trading around 0.95488.
   
• The low formed on Jun 23rd 2016 will be acting as major support and any break below will drag the pair till 0.9440. Overall bullish invalidation only below 0.9440. Any violation below 0.9440 will drag the pair further down till 0.9260.
   
• On the higher side, the pair is facing minor resistance around 0.9606 (5- day MA). Any break above will take the pair to next level till 0.9630 (10- day MA)/0.96830. Minor trend reversal only above 0.9700.

It is good to sell on rallies around 0.9560-0.95625 with SL around 0.9605 for the TP of 0.9440.