FxWirePro:USD/CHF trades softer ahead of Fed monetary policy , good to buy at dips
Major support – 1.0100 (21- day MA). The pair eased after last week rise till 1.021355. It has made a low of 1.0100 yesterday and is currently trading around 1.0113. On the lower side, 21- day MA is acting as major suppo…
The pair eased after last week rise till 1.021355. It has made a low of 1.0100 yesterday and is currently trading around 1.0113.
On the lower side, 21- day MA is acting as major support and any close below 1.0100 will drag the pair till 1.0055 (23.6% retracement of 0.9549 and 1.02135)/1.00180 (Dec 8th 2016 low). The downside is expected to be limited to 1.0020. Minor weakness can be seen only below 1.0020 level.
The minor immediate resistance is around 1.0150 and any violation above will take the pair to next level till 1.02150. The pair should close above 1.02135 for further jump till 1.03027.
It is good to buy on dips around 1.0080 with SL around 1.0020 for the TP of 1.0210/1.0260
