Major support – 0.92900
USDCHF is trading extremely weak for the past 3 weeks and lost more than 500 pips. The decline was mainly due to an increase in demand for Safe-haven assets like yen, gold and Swiss franc. It hits an intraday low of 0.93181 and is currently trading around 0.93696.
On the flip side, near-term support is at 0.9290 and any violation below targets 0.9245/0.9200.
The immediate resistance is around 0.93800, an indicative break above will take the pair to next level till 0.9435/0.9480/0.9500.
It is good to buy on dips around 0.9350 with SL around 0.9300 for the TP of 0.9500. round 0.9300 for the TP of 0.9500.
