FxWirePro:USD/CHF trade idea

• Major support – 0.98600 (200- day MA).
   
• Major resistance – 0.9975 (23.6% retracement of 1.03436 and 0.98611).
   
• USD/CHF has recovered sharply once again after declining till 0.98697.The pair has once again taken support near 200- day MA and jumped from that level.
   
• Any further weakness can be seen only below 200 –day MA level.
   
• On the higher side, upside might be capped by 23.6% fibo level at 0.99750 (23.6% retracement of 1.03435 and 0.98611).Any break above 0.99750 will take the pair till 1.000/1.0446 (30th Jan 2017 high).
   
• The low formed yesterday will be acting as major support and any break below targets 0.9799 (61.8% retracement of 0.95493 and 1.03435)/0.9750.
  
  
  It is good to buy on dips around 0.9920-25 with SL around 0.9860 for the TP of 1.04450

Resistance  
R1-0.9975                           

R2 -1.0000

R3- 1.0550

Support      

S1-0.9860

S2-0.9790

S3- 0.9750