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USDCHF: Buy above 0.9640 (trend line break out ) : FxWirePro | January 17, 2018
USD/CHF 0.44% has declined sharply till 0.95732 and shown a minor jump from that level. The pair declined almost 275 pips from the temporary top at 0.9845. It has recovered till 0.96385 and is currently trading around 0.96280.
Intraday trend of the pair is neutral and it should close above 0.9640 in the hourly chart for further jump. The near term resistance is around 0.9705 and any break above will take the pair to next level till 0.9737 (233- H MA)/0.9775 (50% Fibo). Short term bullishness will be above 0.9845.
On the lower side, major support is around 0.95700 and any break below targets 0.9550/0.9500. Overall bullish invalidation only below 0.9420.
It is good to buy above 0.9640 with SL around 0.9600 for the TP of 0.9705/0.9740.
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