- USD/CHF has shown a minor recovery yesterday on account of better than expected US economic data.US CPI came at 0.1% monthly basis and by 2.0% YOY. The core CPI on the annual basis shown a slight uptick from to 1.8% from 1.7%. US retail sales came at 0.2% in Oct compared to forecast of 0%.
- The Swiss franc was trading higher against all major pair and hits high of 0.98463 after breaking trend line support and 20 –day MA at 0.9930. It is currently trading around 0.98954.
- Technically, the pair took support near 233- day MA and started to recover from that level. Intraday trend is mildly weak, as long as resistance 0.9940 holds. The pair’s near term support is around 0.9850 (233- day MA).Any convincing break below will drag the pair to next level till 0.9805 (38.2% retracement of 0.9420 and 1.00390)/0.9770. Long term weakness only below 0.9705.
- The major resistance is around 0.9938 (20- day MA) and any break above will take the pair to next level till 0.9980/1.000/1.0040. The near term resistance is around 0.9983 (10- day MA)/1.000.
It is good to sell on 0.9925-0.9930 with SL around 0.9970 for the TP of 0.9855/0.9805.


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