Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CHF trades higher, good to buy on dips

  • USD/CHF has shown a major recovery from the low of 0.97096 made on Oct 4th 2017 on upbeat US economic data. . US jobless claim data released yesterday shows that claims fell more than expected to 260k compared to 272k previous week .It is currently trading around 0.97970.
     
  • DXY has shown a major jump and has broken the high of 93.92 and jumped till 94.11. The near term major resistance is around 94.15 and a break above will take the index till 94.60/95 likely.
     
  • The pair’s near term support is around 10- day MA at 0.9718 and any break below will take the pair to next level till minor weakness can be seen below that level. Short term trend is still bullish as long as support 0.9649 (55- day EMA) holds. Any break below will drag the pair down till 0.9580/0.9565/0.9525. Overall bearish continuation can be seen only below 0.9420. The near term support is around 0.9745.
     
  • The near term resistance is around 0.9808 (May 30th 2017 high) and any convincing close above will take the pair to next level till 0.9845/0.9900.

It is good to buy on dips around 0.9750-0.9755 with SL around 0.9690 for the TP of 0.9900.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.