FxWirePro: USD/CHF declined slightly on weaker U.S Housing starts, good to buy on dips
USD/CHF recovered till 0.9770 as Fed delivered the widely expected rate hike. The pair jumped after hitting low of 0.96450 and is currently trading around 0.97416. The pair declined slightly after release of weaker than …
USD/CHF recovered till 0.9770 as Fed delivered the widely expected rate hike. The pair jumped after hitting low of 0.96450 and is currently trading around 0.97416.
The pair declined slightly after release of weaker than expected U.S housing starts data. U.S May housing starts declined to 1.092 mln compared to forecast of 1.215 mln.
Technically the pair has been facing strong resistance around 0.98080 (May 30th 2017 high) and any close above will take the pair till 0.9845/0.9900.
On the lower side, major support is around 0.9615 and any break below will drag the pair down till 0.9580/0.9520 (161.8% retracement of 0.9614 and 0.97393).
It is good to buy on dips around 0.97000 with SL around 0.9645 for the TP of 0.9780/0.9808
