FxWirePro: USD/CHF faces strong resistance at 21- day EMA, good to sell on rallies
USD/CHF has shown a minor jump above 21- day EMA and declined sharply from that level. The pair jumped till 0.95951 and is currently trading around 0.95673. In the daily chart, the pair is facing strong resistance around…
USD/CHF has shown a minor jump above 21- day EMA and declined sharply from that level. The pair jumped till 0.95951 and is currently trading around 0.95673.
In the daily chart, the pair is facing strong resistance around 0.9592 (21- EMA). Any close above will take the pair till 0.9700.
On the lower side, major support is around 0.9440 and any daily close below will take the pair down till 0.9260 in the short term.
Short term bearish invalidation only below 0.9700.
It is good to sell on rallies around 0.9580 with SL around 0.9630 for the TP of 0.9640/0.9700.
