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FxWirePro: USD/CHF takes support near 10 –day MA, good to buy on dips

  • USD/CHF has declined more than 100 pips from the yesterday high of 0.94698. The pair declined till 0.93484 and is currently trading around 0.93939. 
     
  • Technically in the daily chart, the pair has taken support near 10 –day MA at 0.9341 and jumped slightly from that level. The near term major resistance is around 0.9482 (20- day MA) and any break above targets 0.951 (daily Kijun-Sen). Minor bullishness can be seen above 0.9550.
     
  • On the lower side, near term support stands at 0.9400 and any break below will drag the pair to next level till 0.9340/0.9300. Bearish continuation can be seen only below 0.9250.

It is good to buy on dips around 0.9385-90 with SL around 0.9330 for the TP of 0.9445/0.9500.

 

 

 

 

 

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