FxWirePro: USD/CHF trade idea

Major resistance -0.9700 (trend line joining 0.99686 and 0.97674)

USDCHF has recovered more 50 pips from the low of 0.96415. US jobs data released on Friday came at better than expected. US economy has added 201000 jobs in the month of Aug compared to forecast of 191k and unemployment rate came at 3.8%. US average hourly earnings came at 0.4% m/m and at an annual rate of 2.9%. Swiss Franc prices were supported by geo political tensions between US and China.

On the higher side, any break above 0.9700 will take the pair to next level till 0.9760/0.9800/0.9820.

The near term support is around 0.96400 and any violation below targets 0.9600/0.9545.

It is good to buy on dips 0.9700-05 with SL around 0.9660 for the TP of 0.9800/0.9818.

Resistance

R1- 0.9760
 

R2 – 0.9800
 

R3- 0.9818

Support               

S1- 0.96400

S2- 0.9600

S3- 0.9560