FxWirePro: USD/CHF trades weak on safe haven demand, good to sell on rallies
USD/CHF has recovered slightly after hitting low of 0.95344 yesterday. But upside is limited in USD/CHF for the near term as increase in safe haven asset due to US- China trade war. It is currently trading around 0.95729…
USD/CHF has recovered slightly after hitting low of 0.95344 yesterday. But upside is limited in USD/CHF for the near term as increase in safe haven asset due to US- China trade war. It is currently trading around 0.95729.
Market eyes US CPI data and Fed minutes meeting which his to be released today for further direction. The near term resistance is around 0.9600 and any convincing break above will take the pair to next level till 0.9660/0.9700/0.9725.
On the lower side near term support is around 0.9520 and any break below that level targets 0.9480/0.9420.The pair should break below 0.9420 for further weakness.
It is good to sell on rallies around 0.9580-85 with SL around 0.9635 for the TP of 0.9500/0.9420.
