FxWirePro: USD/CHF trades lower on safe haven demand, good to buy on dips
USD/CHF has declined sharply almost more than 30 pips from the intraday high of 0.94891. The pair hits low of 0.94552 at the time of writing. It is currently trading around 0.94629. The Swiss franc has showing a good str…
USD/CHF has declined sharply almost more than 30 pips from the intraday high of 0.94891. The pair hits low of 0.94552 at the time of writing. It is currently trading around 0.94629.
The Swiss franc has showing a good strength due to US-China trade war which increased safe haven demand. Trump is targeting to impose tariffs on USD 50b worth of goods from China.
Technically, in the daily chart the pair is facing strong resistance at 0.9500 and any break above will take the pair to next level till 0.9550/0.9570/0.9600/0.9620./0.96650.
On the lower side, near term support is around 0.9425 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 0.9490-95 with SL around 0.9550 for TP of 0.9435/0.9380.
