FxWirePro: USD/CHF trades lower after SNB policy meeting, good to sell on rallies
USD/CHF has shown a minor decline after hitting high of 0.94596 at the time of writing after SNB monetary policy meeting. The pair has formed temporary top around 0.95354 on Mar 9th 2018 and started to decline from that …
USD/CHF has shown a minor decline after hitting high of 0.94596 at the time of writing after SNB monetary policy meeting. The pair has formed temporary top around 0.95354 on Mar 9th 2018 and started to decline from that level. It is currently trading around 0.94536.
SNB maintains its interest rates unchanged at -0.75% and reiterated its willingness to intervene in Fx markets. CHF has shown a minor jump post SNB meeting. Markets eyes US PPI and retail sales is to be released today at 12:30 PM for further direction.
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 (10- day MA) 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 sell on rallies around 0.9465-70 with SL around 0.9505 for the TP of 0.9400/0.9350.
