FxWirePro: USD/CHF faces strong resistance at 1.0195, good to buy on dips
Wednesday, November 30, 2016 10:56 AM UTC
- Major intraday resistance- 1.0160 (trend line joining 1.01915 and 1.01850)
- Major intraday support -1.0110 (tend line joining 1.00794 and 1.01115)
- The pair jumped slightly 1.01580 at the time of writing after declining till 1.01075. It is currently trading around 1.01292.
- On the lower side, any break below 1.0110 will drag the pair down till 1.0074/1.00385 (23.6% retracement of 0.95432 and 1.01915)/0.9990.
- The minor immediate resistance is around 1.0160 and any violation above will take the pair to 1.0195/1.02260 (88.6% retracement of 1.03284 and 0.94439).
- Short term bullishness only above 1.01915.
It is good to buy above 1.0158 with SL around 1.0110 for the TP of 1.02250