FxWirePro:USD/CHF Trade idea

• Major resistance – 1.03350 (Channel resistance).
   
• Major intraday support – 1.00550 (Dec 29th 2016 low).
   
• USD/CHF has made a low of 1.00869 and jumped till 1.01922. It is currently trading around 1.01805.
   
• The jump from 0.95493 and 1.03435 will come to end if the pair breaks below 1.0050 level. Any break below 1.0050 will drag the pair down till 1/0.9909/0.9830 (200- day MA)The minor support is around 1.0150/1.0080.
   
• On the higher side, break above 1.0209 (89- 4H EMA) will take the USD/CHF to next level till 1.0345 (Dec 15th 2016 high)/1.04180 (161.8% retracement of 1.03435 and 1.02179) in the short term. The minor resistance is around 1.0180/1.0220.

It is good to buy on dips around 1.0135-1.0140 with SL around 1.0080 for the TP of 1.0210/1.0260

Resistance

R1-1.0290

R2-1.2600

R3- 1.03435

Support

S1-1.0150

S2-1.0080

S3- 1.0055