FxWirePro: USD/CHF hits 4- month high, good to buy on dips
USD/CHF has recovered almost more than 100 pips from yesterday’s low. Market doesn’t give much negative reaction to Syrian airstrikes. The risk appetite has been increased and global stocks has shown a good recovery posi…
USD/CHF has recovered almost more than 100 pips from yesterday’s low. Market doesn’t give much negative reaction to Syrian airstrikes. The risk appetite has been increased and global stocks has shown a good recovery positive earnings and easing tensions in Middle East and Korea. It is currently trading around 0.96298.
US housing starts and building permits data was slightly better than expected.US industrial production came slightly better than expected. It rose 0.5% for the month of Mar compared to forecast of 0.3%. The near term resistance is around 0.9700 and any convincing break above will take the pair to next level till 0.9745/0.9780.
On the lower side near term support is around 0.9650 and any break below that level targets 0.9620/0.9580/0.9520.The pair should break below 0.9420 for further weakness.
It is good to buy on dips around 0.9645 with SL around 0.9600 for the TP of 0.9700/0.9745.
