FxWirePro: USD/CHF upside capped by 21- EMA, good to buy on dips
USD/CHF has formed a minor bottom around 0.94385 and recovered sharply from that level. The pair jumped till 0.95916 and is currently trading around 0.9580. In the daily chart, the pair is facing strong resistance around…
USD/CHF has formed a minor bottom around 0.94385 and recovered sharply from that level. The pair jumped till 0.95916 and is currently trading around 0.9580.
In the daily chart, the pair is facing strong resistance around 0.9592 (21- EMA). Any break above will take the pair till 0.9700.
On the lower side, major support is around 0.9440 and any daily close below will take the pair down till 0.9260 in the short term.
Short term bearish invalidation only below 0.9700.
It is good to buy on dips around 0.9550 with SL around 0.9500 for the TP of 0.9640/0.9700.
