FxWirePro: USD/CHF faces strong trend line resistance at 0.9650, good to sell on rallies
USD/CHF has shown a good selling pressure after hitting high of 0.96496 yesterday. The pair weakness was supported by weak US jobs data and US- China trade worries. The trade war has increased demand of safe haven assets…
USD/CHF has shown a good selling pressure after hitting high of 0.96496 yesterday. The pair weakness was supported by weak US jobs data and US- China trade worries. The trade war has increased demand of safe haven assets like gold and Swiss franc. It is currently trading around 0.95932
.
. US economy has added 103K jobs for the month of Mar compared to forecast of 193K and wage growth has shown a minor increase to 0.3% from 0.1%.
The near term resistance is around 0.9660 and any convincing break above will take the pair to next level till 0.9700/0.9725.
On the lower side near term support is around 0.9580 and any break below 0.9550/0.9520.The pair should break below 0.9420 for further weakness.
It is good to sell on rallies around 0.9620-25 with SL around 0.9650 for the TP of 0.9560/0.9520.
