- USD/CHF pair is set continue its bullish bias in the short run. The pair is moving upwards to test resistance level at 0.9333.
- The pair is currently is trading at 1.2329, It is expected to advance futher towards 1.2350 and later 1.2400 handle Swiss Franc is broadly weaker against the dollar in the short term due to due to Greece crisis.
- Greece failed to reach a deal with its creditors on thursday. The meeting of European finance ministers also broke up without any progress in third Euro group meeeting.
- Ultimatley Greece will faces default if they fails to make a Euro 1.6bn IMF debt payment by the course of the meeting the market came to standstill, As no consensus come out from the Eurogroup meeting.
- Major resistance is seen at 0.9350,a break above at this level will open the door to 0.9400 level.To the downside, immediate support can be seen at 0.9300
Recommendation: We prefer short above 0.9310 with targets 0.9360 & 0.9400, SL 0.9250
Resistance Levels
R1: 0.9333
R2:0.9351
R3:0.9372
Support Levels
S1: 0.9312 (38.2% Retracement level)
S2: 0.9300
S3: 0.9280
