USD/CHF Trade idea

• Major resistance – 1.03350 (Channel resistance).
   
• Major intraday support – 1.00550 (Dec 29th 2016 low).
   
• USD/CHF has once again recovered after declining till 1.00561 yesterday. It is currently trading around 1.00798. The pair showed a jump till 1.01134 and started to decline from that level. 
   
• The pair should break below 1.0050 for further bearishness to continue and any break below 1.0050 level will drag the pair down till 1 (psychological support as well as 100% projection of 1.0335-1.0087 measuring from 1.0248) /0.9945 (50% retracement of 0.9550 and 1.0344).
   
• On the higher side, near term resistance is around 1.0150 and any break above 1.0150 will take the USD/CHF to next level till 1.0175 (61.8% retracement of 1.0248 and 1.00561)/1.0200/1.0250 (Jan 11th high).
  
  It is good to sell below 1.0050 with SL around 1.0100 for the TP of 1/0.9945.

Resistance                                                                               

R1-1.0150.

R2-1.01750

R3- 1.0250

Support      

S1-1.0050

S2-1

S3- 0.9945