FxWirePro: USD/CHF upside capped by 7-day MA, good to sell on rallies
Major resistance – 1.0030 (7- day MA). Major support – 0.9914 (200 –day MA). USD/CHF has shown a minor jump till 1.000 and declined from that level. It is currently trading around 0.99538. The pair should break above 1.0…
USD/CHF has shown a minor jump till 1.000 and declined from that level. It is currently trading around 0.99538.
The pair should break above 1.0030 for minor jump till 1.0060/1.0100.
On the lower side, 0.9914 will be acting as immediate support and any break below will drag the pair down till 0.9860.The minor support is around 0.99295.
Minor bullish invalidation only below 0.98600.
It is good to sell on rallies around 0.9980-85 with SL around 1.0030 for the TP of 0.9915/0.9860
