FxWirePro: USD/CHF faces strong resistance at 200 day MA, good to buy at dips

• Major resistance - 0.9840 (200 day MA)
   
• Major support – 0.9740 (daily Kijun-Sen)
   
• USD/CHF has made a high of 0.9836 yesterday and started to decline from that level.  It is currently trading around 0.9800.
   
• Short term trend is bullish as long as support 0.9740 holds.
   
• On the higher side, any break above 0.9835 will take the pair to next level till 0.99075/0.9960 level.
   
• The downside has been capped by daily Kijun-Sen and any break below targets 0.9679 (daily Tenken-Sen)/0.9630/0.9580.
   
• Overall bullish invalidation only below 0.9500 level.

It is good to buy at dips around 0.9780 with SL around 0.9740 for the TP of 0.9835/0.9860