- USD/CHF has shown a good recovery of almost 80 pips yesterday from the low of 0.92836. The pair has closed above trend lien resistance at 0.9340. It is currently trading around 0.93708.
- Market yes FOMC minutes meeting which is going to happen today for further direction. Any hawkish comment from US Fed will take the pair to next level till 0.9470.
- Technically, in the daily chart the pair has closed above 20- day MA at 0.9340 and is trading above that level. The pair should break above 0.9400 for further jump till 0.94700 .It should move above 0.9470 for further bullishness.
- On the lower side, near term support is around 0.9330 and any violation below will drag the pair down till 0.9300/0.9280/0.9240. Any break below 0.91817 confirms bearish continuation, a dip till 0.9060 likely.
It is good to buy on dips around 0.9345-50 with SL around 0.9300 for the TP of 0.94700.