Major resistance – 1.0180 (trend line joining 1.01187 and 1.01405). Major support – 0.9912 (200 –day MA). USD/CHF is consolidating after making a minor bottom around 0.99423 on Mar 17th 2017. The pair is facing intraday …
Major resistance – 1.0180 (trend line joining 1.01187 and 1.01405).
Major support – 0.9912 (200 –day MA).
USD/CHF is consolidating after making a minor bottom around 0.99423 on Mar 17th 2017. The pair is facing intraday major resistance at 0.9985 and any break above that level will take the pair till 1/1.00294 (38.2% retracement of 1.01704 and 0.99423)/1.0065 (200- H MA). It is currently trading around 0.99818.
On the lower side, 0.99120 will be acting as immediate support and any break below will drag the pair down till 0.9860.
Short term bearish invalidation only below 0.98600.
It is good to buy above 0.99850 with SL around 0.9945 for the TP of 1.00280/1.0060
