FxWirePro: USD/CHF trades flat, market eyes US CPI
USD/CHF has shown a minor decline after hitting high of 0.95345 on Mar 9th 2018. The pair is trading in narrow range for almost 75 pips for the past three days. The pair hits low of 0.94591 and is currently trading aroun…
USD/CHF has shown a minor decline after hitting high of 0.95345 on Mar 9th 2018. The pair is trading in narrow range for almost 75 pips for the past three days. The pair hits low of 0.94591 and is currently trading around 0.94844.
Market eyes US CPI data which is to be released today for further direction. US consumer prices is expected to gain 0.2% for the month of Feb.
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 buy on dips around 0.9465-70 with SL around 0.9430 for the TP of 0.9550/0.9600.
