- Major trend line resistance- 0.9880 (trend line joining 1.00926 and 0.99560)
- Major support – 0.9804 (7 day EMA)
- USD/CHF broken trend line resistance yesterday and closed slightly above in daily chart. It is currently trading around 0.98850.
- Short term trend is bullish as long as support 0.9804 (7 day EMA) holds.
- Any violation below 0.9805 will drag the pair down till 0.9740/0.9702 (21 day MA) level. Short term weakness only below 0.9702.A break below 0.9702 targets 0.9670/0.9630 level.
- On the higher side break above 0.9885 will take the pair till 0.9960/1.000 in the short term.
It is good to buy at dips around 0.9875 with SL around 0.9804 for the TP of 0.9960/1.00925.
