USD/CHF is showing a weakness for the past 8 week and hits low of 0.92563. The pair formed temporary top around 1.00390 and declined almost 795 pips from that level. It is currently trading around 0.92785. Market is trad…
USD/CHF is showing a weakness for the past 8 week and hits low of 0.92563. The pair formed temporary top around 1.00390 and declined almost 795 pips from that level. It is currently trading around 0.92785.
Market is trading in narrow range and it eyes US non-farm roll data for further direction.
Technically in the hourly chart, the pair is trading slightly above hourly Tenkan-Sen at 0.92766 and jumped till 0.92936. The near term intraday resistance is around 0.9300 (hourly Kijun-Sen) and any break above targets 0.9320 (trend line resistance)/0.93765 (61.8% fibo)/0.945. Minor bullishness
can be seen above 0.9450.
On the lower side, major support stands at 0.9250 and any break below will drag the pair to next level till 0.9200/0.9145.
It is good to buy on dips around 0.9265-70 with SL around 0.9245 for the TP of 0.9345/0.9380.
