FxWirePro: USD/CHF upside capped by 233- day MA, good to sell on rallies

• Major Support – 0.9800 (200- day EMA).
   
• USD/CHF has shown a minor jump till 0.98180 after hitting intraday low of 0.97780. The pair is trading weak on account of broad based sell off in USD. Any minor bullishness can be seen only above 0.9840. It is currently trading around 0.98075.
   
• On the lower side, near term support is around 0.97730 (support turned into resistance)  and any break below will drag the pair to lower level till 0.9745/0.9705. The pair should break below 0.9705 for further weakness.
   
• The near term resistance is around 0.9840 (233- day MA) and any violation above will take the pair to next level till 0.9875/0.9900. It should break above 0.9950 for further jump till 1.00380.

It is good to sell on rallies around 0.9815-0.9820 with SL around 0.9855 for the TP of 0.9755/0.9705.