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FxWirePro: USD/CHF faces strong resistance at 1.0205, good to buy on dips

Friday, December 9, 2016 7:39 AM UTC

Major resistance – 1.02048 (Nov 30th high).
Major support – 1.0000 (100% projection of 1.0248 and 1.00672 from 1.01817).
The greenback has renewed buying interest after declining till taking support near 1.0020.USD/CHF jumped till 1.01780. The pair is currently trading around 1.01625.
Trend continuation is expected to happen only if the pair breaks above 1.02050. Any break above that level will take the pair till 1.02600/1.03027.
On the lower side, the pair should break below 1.0150 for further selling. Any violation below 1.0150 will take the pair till 1.010/1.0050. The further downside can be seen below 1.0020 will drag the pair till 0.99 58 (55-day EMA).

It is good to buy on dips around 1.0150 with SL around 1.0205 for the TP of 1.0205/1.0302

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FxWirePro: USD/CHF faces strong resistance at 1.0205, good to buy on dips

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