FxWirePro: USD/CHF trades in narrow range, good to sell on rallies
USD/CHF has declined after showing a jump till 0.96143 yesterday. The pair has formed minor double bottom at 0.95400 and is currently trading around 0.95550. Major near term intraday resistance is around 0.9630 and any b…
USD/CHF has declined after showing a jump till 0.96143 yesterday. The pair has formed minor double bottom at 0.95400 and is currently trading around 0.95550.
Major near term intraday resistance is around 0.9630 and any break above confirms minor bullishness, a jump till 0.9680/0.9700/0.9725 likely. Short term bearish invalidation only above 0.97730.
The near term support is around 0.95400 and any convincing break below will drag the pair till 0.95295/0.9500. It should close below 0.94295 for further weakness.
It is good to sell on rallies around 0.9600 with SL around 0.9635 for the TP of 0.9535/0.9500.
