FxWirePro: USD/CHF trades higher on easing trade war tensions, good to buy on dips
USDCHF has declined till 0.94345 and shown a minor jump from that level. The pair hits high of 0.94957 after breaking minor trend line resistance and is currently trading around 0.94952. The main reason for recovery in U…
USDCHF has declined till 0.94345 and shown a minor jump from that level. The pair hits high of 0.94957 after breaking minor trend line resistance and is currently trading around 0.94952.
The main reason for recovery in USD/CHF was slight easing of trade war tensions between US and China. This has reduced demand of safe haven demand. The near term resistance is around 0.94960 (200- H MA) and any convincing break above will take the pair to next level till 0.9520/0.9550.
On the lower side major support is around 0.9420 and any break below 0.9380/0.9350.The minor support is around 0.9480.
It is good to buy on dips around 0.9490 with SL around 0.9450 for the TP of 0.9550/0.9600.
