Thursday, October 15, 2026

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FxWirePro:USD/CHF faces strong resistance at 1.00550, good to sell on rallies

Major resistance- 1.0550 (support turned into resistance) Major support – 1 The pair declined drastically yesterday till 0.99961 and shown a minor pull back from that level. It is currently trading around 1.00259. Short …

By FxWirePro Team
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FxWirePro:USD/CHF faces strong resistance at 1.00550, good to sell on rallies
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  • Major resistance- 1.0550 (support turned into resistance)
     
  • Major support – 1
     
  • The pair declined drastically yesterday till 0.99961 and shown a minor pull back from that level.  It is currently trading around 1.00259.
     
  • Short term trend is still bearish as long as resistance 1.00550 holds.
     
  • Any violation above 1.00550 will take the pair to next level till 1.00832 (61.8% retracement of 1.01364 and 0.99965)/1.01365 (Jan 16th High).
     
  • On the lower side any close below 1 confirms that jump from 0.9549 till 1.03435 got over and a decline till 0.9950/0.9820 is possible.

    It is good to sell on rallies around 1.00500 with SL around 1.0085 for the TP of 0.9950

 

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By FxWirePro Team