- Major resistance – 0.9855 (200 day MA).
- The pair recovered from the low of 0.97834.It is currently trading around 0.98133.
- USD/CHF should close above 0.9855 (200 day MA) for further bullishness. Any break above 0.9855 will take the pair to next level till 0.9960/1.000.
- On the lower side, any break below 0.9770 (90 day EMA) will take the pair to next level till 0.9705 (61.8% retracement of 0.9830 and 0.9633)/0.9630.Minor weakness can be seen below 0.9630 and any violation below 0.9630 targets 0.9575/0.9520.
- Overall bullish invalidation only below 0.9500.
It is good to buy on dips around 0.9780 with SL around 0.9730 for the TP of 0.9855/0.9900
