- Major resistance – 1.00230 (55- day EMA).
- The pair has shown a minor jump till 1.00297 after breaking 55- day EMA. USD/CHF shown a mild decline till 1.00078 at the time of writing. It is currently trading around 1.00204.
- The major near resistance is around 1.00230 (55- day EMA) and any sustained close above indicated that decline from 1.03435 got completed at 0.98136.The pair should break above 1.0170 for further bullish confirmation. The near term resistance are at 1.00783 (61.8% retracement of 1.03435 and 0.98136)/1.00950 (trend line joining 1.033 and 1.01700).
- On the lower side, near term support is around 0.9993 (21- day EMA) and nay violation below will take the pair till 0.9960/0.9912 (200- day MA) /0.98600/0.98100.
It is good to buy on dips around 1.0015 with SL around 0.9960 for the TP of 1.00780/1.0170.
Resistance
R1-1.0030
R2 -1.00780
R3- 1.00950
Support
S1-0.9993
S2-0.9960
S3-0.9925
