FxWirePro:USD/CHF trade idea

• Major support – 0.98600 (200- day MA).
   
• Major resistance – 1.0010 (21- day MA)
   
• The greenback retreated after rising slightly above 1.0000 level and slight bullishness can be seen above the 1.0010. It is currently trading around 0.99954.
   
• The near term resistance is around 1.0010 (21- day MA) and any break above will take the pair till 1.00448 (38.2% retracement of 1.03435 and 0.98611).The break of previous resistance 1.00450 should happen in order to retain bullishness. Break above 1.00450 will take the pair to next level at 1.0070/1.00940 (20th Jan 2017 high).
              
• On the lower side, major support is around 0.98600 (200- day MA) and any break below targets 0.9799 (61.8% retracement of 0.95493 and 1.03435)/0.9750.The minor support is around 0.9900.
   
• Overall bullish invalidation only below 0.94430.
  
  It is good to buy on dips around 0.9950-0.9955 with SL around 0.9900 for the TP of 1.0440/1.0090

Resistance                                                                          

R1-1.0010                           

R2 -1.0045

R3- 1.00940

Support      

S1-0.9900

S2-0.9860

S3- 0.9790