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FxWirePro: USD/CHF faces trend line resistance around 0.9770, good to sell on rallies

  • USD/CHF recovered till 0.97633 after making a low of 0.96675. It is currently trading at 0.9732.

  • The pair is facing strong trend line resistance around 0.9770 and any intraday jump can be seen only above that level.

  • Overall trend is weak as long as resistance 0.9800 holds.

  • Any break above 0.9770 will take the pair till 0.9800/0.9825.

  • On the lower side major support is around 0.9680 and break below will drag the pair further down till 0.96325/0.9595.

It is good to sell on rallies around 0.9740 with SL around 0.9770 for the TP of 0.9680/0.9635

 

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