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FxWirePro: USD/CHF trades slightly above 200-day MA, good to buy on dips

Major Intraday resistance -0.9925

 

USDCHF has shown good jump of nearly 90 pips yesterday from low of 0.98022. The pair was trading weak from Dec 26th till Jan 10th on account of global stock market turmoil. The slight easing of trade war between US and China is supporting USDCHF. The pair hits high of 0.98938 and is currently trading around 0.98878.

 

The near term major intraday resistance is around 0.9925 and any convincing break above targets 0.9965/1.0010/1.0068. Any break above 1.0130 confirms that pair has formed minor bottom at 0.97169.

 

On the lower side, near term support is around 0.9840 and any violation below will drag the pair to next level till 0.9790/0.9735/0.9700.

 

It is good to buy on dips around 0.9870-75 with SL around 0.9830 for the TP of 0.9965/1.000.

 

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ARAnnual Primary Balance*

Actual

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January 31 00:00 UTC 603146603146m

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January 31 00:00 UTC 603146603146m

ARAnnual Primary Balance*

Actual

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2016 bln ARS

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