FxWirePro: USD/CHF trades higher on policy divergence, good to buy on dips
USD/CHF is showing a minor recovery after hitting low of 0.99178. It hits intraday high of 0.99768 and is trading around 0.99729. Swiss central bank has kept its interest rates unchanged as expected at -0.75% and has rai…
USD/CHF is showing a minor recovery after hitting low of 0.99178. It hits intraday high of 0.99768 and is trading around 0.99729. Swiss central bank has kept its interest rates unchanged as expected at -0.75% and has raised inflation forecast for this year to 0.9% up from 0.3%.Swiss bank has said that it is closely watching political uncertainty in Italy and Oil.
On the higher side, 1.000 will be acting as near major resistance and any break above will take the pair to next level till 1.0060 high made on May 10th 2018. Any bullish continuation will take the pair to next level till 1.010/1.0180.
The near term major support stands at 0.9900 and any break below targets 0.9845/0.9800.
It is good to buy on dips around 0.9955-60 with SL around 0.9900 for the TP of 1.0060.
