- Potential Reversal Zone (PRZ) –1.0450 (Jan 30th high).
- USD/CHF recovers sharply from the low of 0.99297 yesterday and has broken major resistance at 1.000 (21- day MA).The pair jumped till 1.00240 at the time of writing. It is currently trading around 1.00234.
- The minor weakness can be seen below 0.9900 and any break below will drag the pair till 0.9860 (200- day MA)/0.9790.
- On the higher side, 1.0450 will be acting as immediate resistance and any break above this level will take the pair till 1.0070/1.01225 (Jan 19th high).
- Short term weakness only below 0.98600 level.
It is good to buy on dips around 1.0015-1.0020 with SL around 0.9980 for the TP of 1.0070/1.0120
Resistance
R1-1.00450
R2 -1.0070
R3- 1.00120
Support
S1-0.9980
S2-0.9950
S3- 0.9900


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