FxWirePro: USD/CHF downside capped by 10- day MA, good to buy on dips
USD/CHF has declined more than 100 pips from the yesterday high of 0.94701. The pair declined till 0.93484 and is currently trading around 0.93840. Technically in the daily chart, the pair has taken support near 10 –day …
USD/CHF has declined more than 100 pips from the yesterday high of 0.94701. The pair declined till 0.93484 and is currently trading around 0.93840.
Technically in the daily chart, the pair has taken support near 10 –day MA at 0.9347 and jumped slightly from that level. The near term major resistance is around 0.9450 (20- day MA) and any close above targets 0.950 /0.9550 (daily Kijun-Sen). Minor bullishness can be seen above 0.9550.
On the lower side, near term support stands at 0.93400 and any break below will drag the pair to next level till0.9300/0.9250. Bearish continuation can be seen only below 0.9250.
It is good to buy on dips around 0.9385-90 with SL around 0.9330 for the TP of 0.9445/0.9500.
