FxWirePro:USD/CHF faces strong support at trend line, break below confirms further weakness
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 lev…
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
