FxWirePro: USD/CHF struggles to break above temporary top at 1.03435, good to sell on rallies
Major resistance – 1.03435 (Dec 15th 2016 high) Major support – 1.02179 (22nd Dec 2016 low) USD/CHF has once again retreated after jumping till 1.03212. The pair should break above temporary top of 1.03435 for further bu…
USD/CHF has once again retreated after jumping till 1.03212. The pair should break above temporary top of 1.03435 for further bullishness.
The jump from 0.95493 and 1.03435 will come to end if the pair breaks below 1.02179 level. Any break below 1.02179 will drag the pair down till 1.01820/1.0150/1.00835 (Dec 14th low).
On the higher side, break above 1.03435 will take the USD/CHF to next level till 1.04180 (161.8% retracement of 1.03435 and 1.02179) in the short term.
It is good to sell on rallies around 1.0275-1.0280 with SL around 1.03435 for the TP of 1.0200/1.0155
