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FxWirePro:USD/CHF faces strong support at 0.9650, good to buy at dips

  • Major support – 0.9650
                   
  • The pair has formed a double bottom around 0.9650 and slightly recovered from that level.  It is currently trading around 0.9700.
     
  • Short term trend is slightly bullish as long as support 0.9650 holds.
     
  • USD/CHF major support is around 0.9650 and any break below will drag the pair down till 0.9600/0.9528 level.
     
  • On the higher side minor resistance is around 0.9750 and any break above targets 0.9780/0.9855.
     
  • Short term bearish invalidation only above 0.9780.

It is good to buy at dips around 0.9698 with SL around 0.9650 for the TP of 0.9780/0.9825

 

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