FxWirePro: USD/CHF faces strong resistance at 55- day EMA, break above targets 1.0170
Major resistance – 1.00230 The pair has shown a major jump after breaking trend line resistance at 0.99700. USD/CHF breaks 1.000 and jumped till 1.00137 yesterday. It is currently trading around 1.00052. The major near r…
The pair has shown a major jump after breaking trend line resistance at 0.99700. USD/CHF breaks 1.000 and jumped till 1.00137 yesterday. It is currently trading around 1.00052.
The major near resistance is around 1.00230 (55- day EMA) and any sustained close above indicated that decline from 1.03435 got completed at 0.98136.The pair should break above 1.0170 for further bullish confirmation. The near term resistance are at 1.00783 (61.8% retracement of 1.03435 and 0.98136)/1.0120.
On the lower side, near term support is around 0.9960 and nay violation below will take the pair till 0.9912 (200- day MA) /0.98600/0.98100.
It is good to buy on dips around 1.000 with SL around 0.9960 for the TP of 1.00780/1.0170.
