Cryptocurrency Derivatives Series: Bitcoin Resumes Rallies Above $8,250 Ahead of BTC CME Futures Expiry, More Bullish Traction on Cards
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, trendline support at 158 in sight
USDCHF struggles to break 200-day MA, any break above targets 1.10350
USDCHF is trading higher for the past 4 days and jumped nearly 80 pips. The pair is struggling to break above 200 -day MA for the preceding 1-1/2 months. The slight easing of the US-China trade war and nice recovery in bond yield is putting pressure on Safe-haven currencies like Swiss Franc and yen. It hits an intraday high of 0.99417 and is currently trading around 0.99438.
The pair should break above 0.99525 (200- day MA) and any violation above targets1.000/1.00300. Any major movement can be seen only after the Fed monetary policy.
On the flip side, major support is around 0.98500 and any break below will drag the pair down till 0.9800/0.9770.
It is good to buy on dips around 0.9900 with SL around 0.9850 for the TP of 1.000/1.0030.