FxWirePro: USD/CHF faces strong trend line resistance at 0.9310, good to buy on dips
USD/CHF has shown a minor recovery of almost more than 100 pips from the low of 0.91876 made on Friday. The pair hits high of 0.9300 and is currently trading around 0.92770. Technically, in the hourly chart the pair has …
USD/CHF has shown a minor recovery of almost more than 100 pips from the low of 0.91876 made on Friday. The pair hits high of 0.9300 and is currently trading around 0.92770.
Technically, in the hourly chart the pair has taken support near 55- H EMA and shown a minor recovery. The pair should break above 0.9310 trend line resistance for further jump till 0.9340 (233- H MA)/0.9365 (61.8% fibo).It should move above 0.9420 for further bullishness.
On the lower side, near term support is around 0.9240 and nay violation below will drag the pair down till 0.9200/0.9187. Any break below 0.91817 confirms bearish continuation, a dip till 0.9060 likely.
It is good to buy on dips around 0.9255-60 with SL around 0.9200 for the TP of 0.9310/0.9355.
