USD/CHF has shown a minor decline till 0.94250 yesterday after US CPI inflation data. The pair has formed temporary top around 0.95354 on Mar 9th 2018. It hits intraday high of 0.94622 and is currently trading around 0.9…
USD/CHF has shown a minor decline till 0.94250 yesterday after US CPI inflation data. The pair has formed temporary top around 0.95354 on Mar 9th 2018. It hits intraday high of 0.94622 and is currently trading around 0.94523.
Market eyes SNB monetary policy which is to be held tomorrow for further direction. Investors expects central bank to keep interest rates on hold and further changes depends on the ECB policy. US PPI and retail sales is to be released today at 12:30 PM for further direction.
Technically, in the daily chart the pair is facing strong resistance at 0.9550 and any break above will take the pair to next level till 0.9600/0.9620./0.96650.
On the lower side, near term support is around 0.9430 (10- day MA) and any break below will take the pair to next level till 0.9380/0.9350. The major support is around 0.92510.
It is good to sell on rallies around 0.9465-70 with SL around 0.9505 for the TP of 0.9400/0.9350.
