FxWirePro: USD/CHF faces strong trend line resistance, close above targets 1.0170
Major resistance – 1.0120 The pair broken trend line resistance of 1.0090 and jumped till 1.01045 at the time of writing. It is currently trading around 1.00893. US economy has added only 98000 jobs in Mar on account of …
The pair broken trend line resistance of 1.0090 and jumped till 1.01045 at the time of writing. It is currently trading around 1.00893.
US economy has added only 98000 jobs in Mar on account of bad weather well below forecast of 18000. Lower temperatures and winter storms accounted for the slowdown in hiring.
The pair faces major near term resistance around 1.0120 and any break above targets 1.0170. Any break above 1.0170 confirms minor trend reversal, a jump till 1.03450.
On the lower side, near term support is around 1.00350 (23.6% retracement of 0.98136 and 1.01045) and any violation below will take the pair till 1.0014 (21- day EMA)/0.9960/0.9933 (200- day MA).
It is good to buy on dips around 1.0070 with SL around 1.0030 for the TP of 1.0170.
