FxWirePro: USD/CHF trade idea

• 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