FxWirePro: USD/CHF consolidates in narrow range, good to sell on rallies
USD/CHF is consolidating in narrow range between 0.95440 and 0.97052 for the past four trading session. The pair has formed a temporary top around 0.9705 on Sep 14th 2017 and started to decline from that level. It is cur…
USD/CHF is consolidating in narrow range between 0.95440 and 0.97052 for the past four trading session. The pair has formed a temporary top around 0.9705 on Sep 14th 2017 and started to decline from that level. It is currently trading around 0.96129.
US Fed policy decision and press conference on Sep 20th will be major focus. The Fed is expected to formally announce schedule of the long awaited normalization of its USD 4.5 trillion balance sheet.
Short term trend is still bullish as long as resistance 0.97730 holds. Any break above will take the pair to next level till 0.9808/0.9845.
Overall bearish continuation can be seen only below 0.9420.The minor support is around 0.9540/0.9500.
It is good to sell on rallies around 0.9650-0.9655 with SL around 0.9705 for the TP of 0.9545/0.9500.
