• Candlestick pattern formed- Shooting star
   
• Potential Reversal Zone (PRZ) –1.01225  
   
• USD/CHF has shown a huge selling pressure after hitting a high1.01187 yesterday. Intraday bias is weak but near term outlook remains bullish as long as support 0.99297 holds. It is currently trading around 1.00140.
   
• The minor weakness can be seen below 1.0000 (100- day EMA) and any break below will drag the pair till 0.9950/0.99297 (Feb 8th low).Major weakness can be seen only below 0.98600.The minor support is around 1.00380 (55- day EMA)/1.00180.
   
• On the higher side, 1.01225 will be acting as immediate resistance and any break above this level will take the pair till 1.01588 (61.8% retracement of 1.03435 and 0.98611)/1.0200.
   
• Short term weakness only below 0.98600 level.
  
  It is good to sell on rallies around 1.00450 with SL around 1.0120 for the TP of 0.9935/0.9880