FxWirePro: USD/ZAR hovers around key support at 14.70 mark, sustained close below requires for downside rally
FxWirePro: USDCHF recovers slightly on broad based US dollar buying, good to buy on dips
USDCHF is trading mildly higher for past four trading days after hitting low of 1.00499. The good recovery in Swiss franc was due to renewed trade war between US and China which has increased demand for safe haven assets. The pair hits high of 1.01132 and is currently trading around 1.01050.
On the higher side, near term resistance is around 1.0125 and any break above will take the pair to next level till 1.01750/1.02369.
The major support is around 1.00750 and any violation below will drag the USDCHF till 1.00435/1/0.9950 (200- day MA).
It is good to buy on dips around 1.008 with SL around 1.0040 for the TP of 1.0175/1.02369.