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FxWirePro: Sell USD/CHF on rallies

  • USD/CHF taken support near 200 –day MA and jumped till 0.99945 yesterday. The pair  should break above 1.0024 (55- day EMA) for further bullishness.
     
  • The minor resistance is around 1.000 and any break above target 1.00240. Any break above 1.0024 will take the pair till 1.00489 (61.8% retracement of 1.0107 and 0.99409)/1.0120/1.0170.
     
  • Short term bearish invalidation only above 1.01700.
     
  • The near term support is around 0.9940 (200- MA) and any break below will drag the pair down till   0.9925 (61.8% retracement of 1.0107 and 0.98135)/0.9860.

    It is good to sell on rallies around 0.9985 with SL around 1.00240 for the TP of 0.9925/0.9860.
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