- USD/CHF recovered till 0.9770 as Fed delivered the widely expected rate hike. The pair jumped after hitting low of 0.96450 and is currently trading around 0.97416.
- The pair declined slightly after release of weaker than expected U.S housing starts data. U.S May housing starts declined to 1.092 mln compared to forecast of 1.215 mln.
- Technically the pair has been facing strong resistance around 0.98080 (May 30th 2017 high) and any close above will take the pair till 0.9845/0.9900.
- On the lower side, major support is around 0.9615 and any break below will drag the pair down till 0.9580/0.9520 (161.8% retracement of 0.9614 and 0.97393).
It is good to buy on dips around 0.97000 with SL around 0.9645 for the TP of 0.9780/0.9808
