- Intraday trend – Slightly Bullish
- Pattern formed – Bullish
Divergence
- USD/CHF declined slightly below major support 0.9440 and slightly jumped from that level. It is currently trading around 0.94550.
- The pair recovered after hitting low of 0.9440. Overall bullish invalidation only if it closes below 0.9440. Any violation below 0.9440 will drag the pair further down till 0.9260.
- On the higher side, the pair is facing major resistance around 0.9540 (5- day MA). Any break above will take the pair to next level till 0.9572/0.9632 (daily Kijun-Sen). Minor trend reversal only above 0.9700. Short term bullishness above 0.9808. The near term resistance is around 0.9550.
It is good to buy on dips around 0.9450 with SL around 0.9430 for the TP of 0.9500/0.9540.
