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FxWirePro: Buy USD/CHF above 0.9965

 

Pattern formed- Falling wedge

 

USDCHF is consolidating in narrow range between 0.98628 and 0.99655 for past four trading days. Markets shown a recovery after dovish SNB monetary statement.SNB has kept its target range for the three-month LIBOR at -1.25% to -0.25% and deposit rate fixed at 0.75%. The central bank considered Swiss franc “highly valued” and cuts its inflation ,growth forecast . It is currently trading around 0.99472.

 

The near term major resistance is around 0.99635 (falling wedge break out) and any convincing break above targets 1.0010/1.00680. Any violation above 1.013 confirms minor trend reversal.

 

On the lower side ,support is around 0.9880 and any violation below will take the pair to next level till 0.9845/0.9800.

 

It is good to buy above 0.9965 with SL around 0.9920 for the TP of 1.010.

 

 

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January 22 19:00 UTC 779619779619m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 767799767799m

ARAnnual Primary Balance*

Actual

Forecast

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Bln AR bln ARS

January 31 00:00 UTC 767799767799m

ARAnnual Primary Balance*

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Previous

Bln AR bln ARS

January 31 00:00 UTC 767799767799m

ARAnnual Primary Balance*

Actual

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2016 bln ARS

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Bln AR bln ARS

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