USD/CHF Trade Idea

• Major support – 0.9597 (trend line joining 0.9443 and 0.9578)
   
• Major resistance – 0.9680 (55 4H EMA)
   
• The pair has broken major trend line support in the morning and declined till 0.95718 at the time of writing. It is currently trading at 0.9645.
   
• On the downside firm break below 0.9580 confirms rebound from 0.9578 has ended and a further decline till 0.9500/0.9445 is possible.
   
• The greenback major resistance is at 0.9680 (13th Jun high) and any break above  will take the pair to next immediate resistance at 0.9765 (50 % retracement of 0.99508 and 0.95780)/0.9780.
   
• The price should break above 0.9780 for further bullishness.

It is good to sell on rallies around 0.9590-95 with SL around 0.9680 for the TP of 0.9500/0.9445.

R1-0.9680

 R2-0.9745

R3-0.9780

Support

S1-0.9580

S2-0.9500

S3-0.9445