- USD/CHF is showing a weakness for the past 8 week and hits low of 0.92563. The pair formed temporary top around 1.00390 and declined almost 795 pips from that level. It is currently trading around 0.92785.
- Market is trading in narrow range and it eyes US non-farm roll data for further direction.
- Technically in the hourly chart, the pair is trading slightly above hourly Tenkan-Sen at 0.92766 and jumped till 0.92936. The near term intraday resistance is around 0.9300 (hourly Kijun-Sen) and any break above targets 0.9320 (trend line resistance)/0.93765 (61.8% fibo)/0.945. Minor bullishness
can be seen above 0.9450.
- On the lower side, major support stands at 0.9250 and any break below will drag the pair to next level till 0.9200/0.9145.
It is good to buy on dips around 0.9265-70 with SL around 0.9245 for the TP of 0.9345/0.9380.