- Major support – 0.99575 (38.2% retracement of 0.95493 and 1.03436)
- Major resistance – 1.0040 (5- day MA).
- USD/CHF has formed a bottom around 0.99595 at the time of writing and started to jump from that level. It is currently trading around 0.99950.
- The pair down side is capped by 38.2% fibo and any further weakness can be seen below 0.99575. The jump from 0.95490 till 1.03436 will come to an end if it breaks below 0.99575 level.
- On the lower side, any break below 0.99575 will drag the pair till 0.9925 (200- day EMA)/0.9860 (200- day MA).
- USD/CHF psychological resistance at 1.000 and any break above targets 1.0080 (10- day MA)/1.01220.
It is good to buy on dips around 0.9990 with SL around 0.99575 for the TP of 1.0040
Resistance R1-1.0040
R2-1.0080
R3- 1.01220
Support
S1-0.99575
S2-0.9925
S3- 0.9860