FxWirePro:USD/CHF Trade idea

• Major support – 0.99575 (38.2% retracement of 0.95493 and 1.03436)
   
• Major resistance – 1.0040 (5- day MA).
   
• USD/CHF has formed a bottom around 0.99595 at the time of writing and started to jump from that level. It is currently trading around 0.99950.
• The pair down side is capped by 38.2% fibo and any further weakness can be seen below 0.99575. The jump from 0.95490 till 1.03436 will come to an end if it breaks below 0.99575 level.
   
• On the lower side, any break below 0.99575 will drag the pair till 0.9925 (200- day EMA)/0.9860 (200- day MA).
   
• USD/CHF psychological resistance at 1.000 and any break above targets 1.0080 (10- day MA)/1.01220.
  
  It is good to buy on dips around 0.9990 with SL around 0.99575 for the TP of 1.0040

Resistance                                                                  R1-1.0040

R2-1.0080

R3- 1.01220

Support      

S1-0.99575

S2-0.9925

S3- 0.9860