USD/CHF trades well above 1.02135, jump till 1.0328 is possible
Major resistance – 1.03284 (Nov 27th 2016 high). Major support -1.00780 USD/CHF trades higher and breaks major resistance at 1.02135 after Fed hiked interest rates by 25bpbs. Fed hiked interest rate first time in 2016 an…
USD/CHF trades higher and breaks major resistance at 1.02135 after Fed hiked interest rates by 25bpbs.
Fed hiked interest rate first time in 2016 and is expected to hike three times in 2017 compared to forecast of two times. The CME groups Fed watch Probability for a June 2017 hike increased from 57.7% to 78% after central bank announcement.
Technically any break above temporary top confirms bullishness, a jump till 1.30280 is possible.
On the lower side support, minor support stands at 1.0150 (5- day MA) and below that level targets 1.00780/1.0020. It should close below 1.0020 for further weakness.
It is good to buy on dips around 1.02150 with SL around 1.0150 for the TP of 1.03280
