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FxwirePro: Buy USD/CHF on dips

  • USD/CHF has formed a minor bottom around 0.94385 and slightly recovered from that level. The pair jumped till 0.94747 and is currently trading around 0.94698.
     
  • In the hourly chart, the pair is slightly trading above Ten ken –Sen and Kijun-Sen. The upside limited by   cloud top around 0.9529. Any break above will take the pair till 0.9565 (200- HMA).
     
  • On the lower side, major support is around 0.9440 and any daily close below will take the pair down till 0.9260 in the short term.
     
  • Short term bearish invalidation only below 0.9700.
     
  • RSI and MACD is showing a buy signal in the hourly chart.

It is good to buy on dips around                0.9470 with SL around 0.9440 for the TP of 0.9530/0.9560

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