USD/CHF takes support near 200 –day MA, good to buy on dips
Major support – 0.98600 (200- day MA)
Major resistance – 0.9975 (23.6% retracement of 1.03436 and 0.98611).
USD/CHF broken major support of 0.99575 yesterday and declined till 0.98611. The pair has taken support near 200- day MA and jumped from that level.
Any further weakness can be seen only below 200 –day MA level.
On the higher side, upside might be capped by 23.6% fibo level at 0.99750 (23.6% retracement of 1.03435 and 0.98611).Any break above 0.99750 will take the pair till 1.000/1.0446 (30th Jan 2017 high).
The low formed yesterday will be acting as major support and any break below targets 0.9799 (61.8% retracement of 0.95493 and 1.03435)/0.9750.
It is good to buy on dips around 0.9900 with SL around 0.9850 for the TP of 0.9975/1.000
Major resistance – 0.9975 (23.6% retracement of 1.03436 and 0.98611).
USD/CHF broken major support of 0.99575 yesterday and declined till 0.98611. The pair has taken support near 200- day MA and jumped from that level.
Any further weakness can be seen only below 200 –day MA level.
On the higher side, upside might be capped by 23.6% fibo level at 0.99750 (23.6% retracement of 1.03435 and 0.98611).Any break above 0.99750 will take the pair till 1.000/1.0446 (30th Jan 2017 high).
The low formed yesterday will be acting as major support and any break below targets 0.9799 (61.8% retracement of 0.95493 and 1.03435)/0.9750.
It is good to buy on dips around 0.9900 with SL around 0.9850 for the TP of 0.9975/1.000
