FxWirePro: USD/CHF faces strong resistance at 0.9800, good to sell on rallies

• Major resistance- 0.9800
   
• Major support – 0.9640 (200 day 4H MA)
   
• USD/CHF has declined after making a high of 0.97430. It is currently trading around 0.97046.
   
• Short term trend is slightly bearish as long as resistance 0.9780 holds.
   
• On the higher side any break above 0.9780 will take the pair to next level till 0.9800/0.9850.
   
• Short term trend reversal only above 0.9800.
   
• Any violation below 0.96430 will drag the pair down till 0.9575/0.9530/0.9500.

It is good to sell on rallies around 0.9685-0.9690 with SL around 0.9630 for the TP of 0.9780/0.9800