FxWirePro: USD/CHF upside capped by 1.000 level, good to sell on rallies
USD/CHF shown a minor jump till 0.99808 after making a low of 0.98963. It is currently trading around 0.99567 0.02% lower. The minor resistance is around 1.000 and any break above target 1.00240 (55- day EMA). Any break …
USD/CHF shown a minor jump till 0.99808 after making a low of 0.98963. It is currently trading around 0.99567 0.02% lower.
The minor resistance is around 1.000 and any break above target 1.00240 (55- day EMA). Any break above 1.0024 will take the pair till 1.00413 (61.8% retracement of 1.03435 and 0.98135)/1.0120/1.0170.
Minor bullishness can be seen only above 1.000 but the pair should close above 1.0020 (55- EMA) for further jump. Short term support is around 0.9800 and any major weakness can be seen below that level. The jump from 0.94450 and 1.03436 will come to an end if it breaks below 0.9800.
It is good to sell on rallies around 0.9955-0.9960 with SL around 1.000 for the TP of 0.9860/0.9810.
