FxWirePro: USD/CHF faces strong support at 0.9550, break below targets 0.9420
USD/CHF has declined almost 100 pips from the previous week high of 0.96475. The slight jump in Swiss franc was mainly due to increase of safe haven asset as US- China trade war tension escalates. It is currently trading…
USD/CHF has declined almost 100 pips from the previous week high of 0.96475. The slight jump in Swiss franc was mainly due to increase of safe haven asset as US- China trade war tension escalates. It is currently trading around 0.95558.
Market eyes US PPI data which his to be released today for further direction. The near term resistance is around 0.9590 (38.2% fib) and any convincing break above will take the pair to next level till 0.9660/0.9700/0.9725.
On the lower side near term support is around 0.9550 and any break below that level targets 0.9520/0.9480.The pair should break below 0.9420 for further weakness.
It is good to sell on rallies around 0.9580-85 with SL around 0.9635 for the TP of 0.9500/0.9420.
