FxWirePro: USD/CHF key support at 1.0242, bullish in the short term
The USD/CHF pair rallied initially towards 1.0292 levels after ADP Employment data from US market printed positive figures, However after the market stabilized from the impact of the data release, the pair is turned back…
The USD/CHF pair rallied initially towards 1.0292 levels after ADP Employment data from US market printed positive figures, However after the market stabilized from the impact of the data release, the pair is turned back towards 1.0242 support level.
The pair continues to remains under strong bulls control unless until it trades above 1.0200 levels, therefore it is good to buy this pair on dips.
The pair is trading around 1.0268 levels and it is expected advance further towards 1.0300 and 1.0350 levels in the short term.
To the upside, the strong resistance can be seen at 1.0288, a break above this level would take the pair towards next resistance level at 1.0344.
To the downside immediate support can be seen 1.0242, a break below this level will take the pair to next level at 1.0195.
Recommendation: Go long above 1.0245, targets 1.0300, 1.0350, SL 1.0195
