FxWirePro: USD/CHF upside capped by 5- day MA, good to sell on rallies
USD/CHF shown a minor recovery after forming a bottom around 0.96220. The pair shown a minor jump till 0.96650 and any minor bullishness can be seen only above 0.9685 (5- day MA). Any break above 0.9808 high made on May …
USD/CHF shown a minor recovery after forming a bottom around 0.96220. The pair shown a minor jump till 0.96650 and any minor bullishness can be seen only above 0.9685 (5- day MA).
Any break above 0.9808 high made on May 30th 2017 will take the pair till 0.9835 (38.2% retracement of 1.00998 and 0.96220)/0.9900/0.9925 (50- day MA).
The pair declined till 0.9620 100% projection of 1.0342 to 0.9860 from 1.0099. Any daily close below will 0.9617 will drag the pair down till 0.9580/0.95490 (Nov 9th 2016 low).
Overall bearish invalidation only above 1.03435.
It is good to sell on rallies around 0.9700 with SL 0.9765 for the TP of 0.9617/0.9549.
