FxWirePro:USD/CHF faces strong support at trend line, break below confirms further weakness
Tuesday, March 14, 2017 12:20 PM UTC
- Major resistance – 1.0180 (trend line joining 1.01187 and 1.01405).
- Major support – 1.00600 (trend line joining 0.99636 and 1.0089 ).
- USD/CHF has once again taken support near trend line and jumped slightly from that level. The pair jumped till 1.0166 yesterday. It is currently trading around 1.00800.
- The pair should break above the weekly high of 1.01700 for further jump till 1.0200/1.02480.the minor resistance is around 1.01200.
- On the lower side, 1.0060 will be acting as immediate support and any break below will drag the pair down till 1.000/0.9960 (Feb 16th 2017 high).
It is good to sell on rallies around 1.0100 with SL around 1.0150 for the TP of 1.000