FxWirePro: USD/CHF trades higher after SNB loose monetary policy, good to buy on dips
USD/CHF has shown huge jump almost 50 pips after SNB monetary policy meeting .SNB has kept its interest rates unchanged in its quarterly interest rate setting decision. SNB’S Jordan said that CHF still overvalued and upg…
USD/CHF has shown huge jump almost 50 pips after SNB monetary policy meeting .SNB has kept its interest rates unchanged in its quarterly interest rate setting decision. SNB’S Jordan said that CHF still overvalued and upgraded its inflation target to 0.7% from 0.4%. The pair hits high of 0.98843 and is currently trading around 0.98788.
On the higher side, near term resistance is around 0.98850 (233- H MA) and any break above will take the pair to next level till 0.9945/0.9977 (Dec 8th 2017 high). It should break above 1.0040 for short term bullishness.
The near term support is around 0.9850 (15 H MA) and any violation below that level will drag the pair to next level till 0.9800/0.9770/0.9735.
It is good to buy on dips around 0.9845-0.9850 with SL around 0.9800 for the TP of 0.9945/0.9975.
