Swiss franc lost its momentum after hitting high of 0.95824 on Friday. USD/CHF is currently trading around 0.96864. The pair is facing support near 0.9600 (50% retracement of 0.94385 and 0.97728) and any close below will…
Swiss franc lost its momentum after hitting high of 0.95824 on Friday. USD/CHF is currently trading around 0.96864.
The pair is facing support near 0.9600 (50% retracement of 0.94385 and 0.97728) and any close below will drag the pair till 0.9550/0.9500 in the short term. The bearish continuation can be seen only below 0.94385.
On the higher side, near term major resistance is around 0.9700 and any break above will take the pair till 0.9736 (89- day EMA)/0.9783 (38.2% retracement of 1.03432 and 0.94385).
It is good to buy on dips around 0.9600 with SL around 0.9550 for the TP of 0.9725/0.9745.
