FxWirePro: USD/CHF trades higher, good to buy on dips
USD/CHF is consolidating after hitting high of 0.95344 on Friday. The pair has shown a minor decline after US jobs data. The pair major bottom is around 0.9320 and any weakness can be seen only below this level. It is cu…
USD/CHF is consolidating after hitting high of 0.95344 on Friday. The pair has shown a minor decline after US jobs data. The pair major bottom is around 0.9320 and any weakness can be seen only below this level. It is currently trading around 0.94945.
US economy has added 313K jobs for the month of Feb highest in 1-1/2 years compared to forecast of 205K. But wage growth slows down to 0.1% compared to forecast of 0.3%.
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 (34- day EMA) 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 0.9480 with SL around 0.9430 for the TP of 0.9600.
