FxWirePro: USD/CHF faces strong resistance at 0.99600, good to buy on dips
Major resistance – 1.0180 (trend line joining 1.01187 and 1.01405). Major support – 0.9960 (Feb 16th low). USD/CHF broken major trend line support at 1.00600 yesterday and declined sharply till 0.99695 from that level. I…
Major resistance – 1.0180 (trend line joining 1.01187 and 1.01405).
Major support – 0.9960 (Feb 16th low).
USD/CHF broken major trend line support at 1.00600 yesterday and declined sharply till 0.99695 from that level. It is currently trading around 0.99675.
The pair should break above 1.00600 (support turned into resistance) for minor bullishness till 1.0110 (10- day MA).
On the lower side, 0.9960 will be acting as immediate support and any break below will drag the pair down till 0.9908 (200- day MA).
It is good to buy on dips around 0.99625-0.99650 with SL around 0.9908 for the TP of 1.00179/1.0040
