USD/CHF faces strong resistance at 0.9960, break above confirms minor bullishness
Major resistance – 0.9960 The pair recovered sharply after making a low of 0.98136 on 27th Mar 2017. USD/CHF broken the 200 –day MA at 0.9922 and closed slightly above that level yesterday. It should break above 0.9960 f…
The pair recovered sharply after making a low of 0.98136 on 27th Mar 2017. USD/CHF broken the 200 –day MA at 0.9922 and closed slightly above that level yesterday.
It should break above 0.9960 for minor bullishness. Any violation above 0.9960 will take the pair till 1.0027 (21- day MA)/1.00340 (61.8% retracement of 1.01700 and 0.98136)/1.00783 (61.8% retracement of 1.03435 and 0.98136).
On the lower side , any break below 0.9800 confirms further weakness . Any break below that level will drag the pair till 0.9768 (61.8% retracement of 0.94439 and 1.03436).
It is good to buy above 0.9960 with SL around 0.9900 for the TP of 1.0027/1.00780.
