• Harmonic pattern formed – Bearish Cypher pattern
   
• Potential Reversal Pattern (PRZ)- 1.01400
   
• USD/CHF has formed potential Bearish Cypher pattern which is expected to be completed at 1.01160 level . It is currently trading around 1.01006.
   
• Swiss franc slightly recovered after positive Swiss Manufacturing PMI . Swiss PMI came at 57.8 compared to forecast of 55.5. CHF recovered till 1.00882 after making a high of 1.0108. Market awaits U.S ISM manufacturing PMI for further direction.
   
• The pair has formed temporary top around 1.01405 and any minor bullishness can be seen above that level. Any break above targets 1.0160 (61.8% retracement of 1.03436 and 0.98696)/1.0200.


• Minor bullishness can be seen only above 1.02480.
   
• On the lower side, 1.0065 (200- HMA) will be acting as major intraday support and any break below will drag the pair till 1.000/0.9965 (Feb 16th low).
  
  It is good to sell on rallies around 1.010-1.0103 with SL around 1.0420 for the TP of 1.000.