USD/CHF downside capped by 38.2% fibo, good to buy on dips
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 1.000.
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
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 1.000.
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
