FxWirePro: USD/CHF breaks major resistance at 1.01180, good to buy on dips
Wednesday, February 22, 2017 9:16 AM UTC
- Major resistance -1.0118 (Feb 15th 2017 high)
- Major support – 0.99297 (Feb 8th 2017 low).
- USD/CHF broken minor top formed around 1.0118 and jumped slightly till 1.0130 level. Any break above 1.01180 confirms minor bullishness, a jump till 1.02480 is likely. It is currently trading around 1.01230.
- Intraday outlook remains slightly bullish as long as support 1.00380 (55- day EMA) holds.
- The declined from 1.03436 has got completed at 0.98600. So further bearishness only below 0.98600.
- On the lower side, major support is around 1.00380 and any break below targets 0.9992 (daily Kijun- Sen)/0.9960 (Feb 17th low)/0.9927 (Feb 8th low).
It is good to buy on dips around 1.011 with SL around 1.0050 for the TP of 1.0248.