FxWirePro: USD/CHF trade Idea

• USD/CHF has shown huge jump almost 50 pips after SNB monetary policy meeting .SNB has kept its interest rates unchanged in its quarterly interest rate setting decision. SNB’S Jordan said that CHF still overvalued and upgraded its inflation target to 0.7% from 0.4%. The pair hits high of 0.98843 and is currently trading around 0.98720.
   
• On the higher side, near term resistance is around 0.98850 (233- H MA) and any break above will take the pair to next level till 0.9945/0.9977 (Dec 8th 2017 high). It should break above 1.0040 for short term bullishness.
   
• The near term support is around 0.9850 (15 H MA) and any violation below that level will drag the pair to next level till 0.9800/0.9770/0.9735.

It is good to buy on dips around 0.9845-0.9850 with SL around 0.9800 for the TP of 0.9945/0.9975.

Resistance
 

R1- 0.9900
 

R2 -0.9945
 

R3- 0.99770
 

Support               
 

S1-0.9850
 

S2- 0.9800
 

S3-0.9770