FxWirePro: USD/CHF trades above trend line resistance 0.9340, market eyes US Fed minutes meeting
USD/CHF has shown a good recovery of almost 80 pips yesterday from the low of 0.92836. The pair has closed above trend lien resistance at 0.9340. It is currently trading around 0.93708. Market yes FOMC minutes meeting wh…
USD/CHF has shown a good recovery of almost 80 pips yesterday from the low of 0.92836. The pair has closed above trend lien resistance at 0.9340. It is currently trading around 0.93708.
Market yes FOMC minutes meeting which is going to happen today for further direction. Any hawkish comment from US Fed will take the pair to next level till 0.9470.
Technically, in the daily chart the pair has closed above 20- day MA at 0.9340 and is trading above that level. The pair should break above 0.9400 for further jump till 0.94700 .It should move above 0.9470 for further bullishness.
On the lower side, near term support is around 0.9330 and any violation below will drag the pair down till 0.9300/0.9280/0.9240. Any break below 0.91817 confirms bearish continuation, a dip till 0.9060 likely.
It is good to buy on dips around 0.9345-50 with SL around 0.9300 for the TP of 0.94700.
