FxWirePro: USD/CHF key support at 1.0245, bullish in the short term

The USD/CHF pair rallied from 1.0255 to hit high at 1.0294 levels in the early European session. However, after negative ISM Manufacturing PMI, the pair has 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 1.0262 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 1.0220, targets 1.0300, 1.0380, SL 1.0195
  
  Resistance Levels
  
  R1: 1.0288 (38.2% Retracement level)
  
  R2: 1.0320 (Nov 30th high)
  
  R3: 1.0344 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.0242 (50% Retracement level)
  
  S2: 1.0195 (61.8% Retracement level)
  
  S3: 1.0144 (Nov 25th lows)