FxWirePro: USD/CHF faces strong resistance around 1 level, good to sell on rallies
Candle Stick pattern formed – Shooting Star The pair jumped sharply till 1.000 on 25th Oct and declined sharply from that level. It is trading around 0.99336. Short term trend is weak as long as resistance 1.000 holds. A…
The pair jumped sharply till 1.000 on 25th Oct and declined sharply from that level. It is trading around 0.99336.
Short term trend is weak as long as resistance 1.000 holds. Any violation above 1.0000 confirms further bullishness, a jump till 1.0040/1.0090 is possible.
On the lower side, support stands at 0.9900 and any indicative break below targets 0.9840 (21-day MA)/0.9780.
Short-term reversal only above 1.000.
It is good to sell on rallies around 0.9960 with SL around 1.000 for the TP of 0.9845/0.9780.
