- USD/CHF is trading weak for third consecutive days and broken 0.93480 (10- day MA) and declined till 0.93353 at the time of writing. The pair formed a minor top around 0.9470 and further bullishness only above that level. It is currently trading around 0.9330.
- Technically in the daily chart, the pair is trading slightly below 10 –day MA and confirms minor weakness, a decline till 0.9300/0.92550. Bearish continuation can be seen only below 0.9250. The pair hits intraday low of 0.93350 (Hourly cloud bottom) and minor selling below that level is possible.
- The near term major resistance is around 0.9400 and any break above 0.9470 /0.9500. Minor bullishness can be seen above 0.9550.
It is good to sell on rallies around 0.9355-60 with SL around 0.9400 for the TP of 0.92550.
Resistance
R1-0.9400
R2 – 0.9450
R3-0.9470
Support
S1-0.9330
S2-0.9300
S3- 0.9255
