FxWirePro:USD/CHF takes support near 200- day MA, good to buy on dips
Major support – 0.98600 (200- day MA). Major resistance – 0.9975 (23.6% retracement of 1.03436 and 0.98611) USD/CHF has recovered sharply once again after declining till 0.98697.The pair has once again taken support near…
Major resistance – 0.9975 (23.6% retracement of 1.03436 and 0.98611)
USD/CHF has recovered sharply once again after declining till 0.98697.The pair has once again taken support near 200- day MA and jumped from that level.
Any further weakness can be seen only below 200 –day MA level.
On the higher side, upside might be capped by 23.6% fibo level at 0.99750 (23.6% retracement of 1.03435 and 0.98611).Any break above 0.99750 will take the pair till 1.000/1.0446 (30th Jan 2017 high).
The low formed yesterday will be acting as major support and any break below targets 0.9799 (61.8% retracement of 0.95493 and 1.03435)/0.9750.
It is good to buy on dips around 0.9920-25 with SL around 0.9860 for the TP of 1.04450
