USD/CHF beaks major trend line support, targets 0.9445
Major support – 0.9597 (trend line joining 0.9443 and 0.9578) Major resistance – 0.9580 (55 4H EMA) The pair has broken major trend line support in the morning and declined till 0.95839 at the time of writing. It is curr…
Major support – 0.9597 (trend line joining 0.9443 and 0.9578)
Major resistance – 0.9580 (55 4H EMA)
The pair has broken major trend line support in the morning and declined till 0.95839 at the time of writing. It is currently trading at 0.95868.
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.
