FxWirePro: USD/CHF struggles to close above 200- day MA, good to sell on rallies
USD/CHF has once again retreated after showing a minor above 200- day MA. It is currently trading around 0.99109 0.33% lower. The near term resistance is around 1.000 and any break above target 1.0013 (55- day EMA). Any …
USD/CHF has once again retreated after showing a minor above 200- day MA. It is currently trading around 0.99109 0.33% lower.
The near term resistance is around 1.000 and any break above target 1.0013 (55- day EMA). Any break above 1.0024 will take the pair till 1.00413 (61.8% retracement of 1.03435 and 0.98135)/1.0120/1.0170.On the lower side , support stands at 0.9860 and any decline below that will drag the pair till 0.9800.
Short term bearish invalidation can be seen only above 1.01740.
It is good to sell on rallies around 0.9945-50 with SL around 1.000 for the TP of 0.9860/0.9815.
