Short USDCHF: Sello on rallies : FxWirePro | October 11, 2018

Candlestick pattern- Doji and Shooting star

Major resistance 0.9950

USDCHF -0.14% was consolidating in narrow range after massive recovery from low of 0.95421. The pair hits high of 0.9955 and shown a minor decline of more than 50 pips today on account of geo -1.22% political tensions in Italy             and trade war worries between US and China has increased demand of safe haven currencies like Yen, Swiss franc 1.48% . The pair hits low of 0.9855 and is currently trading around 0.98821.

On the lower side, near term support is around 0.9855 (23.6% fib) and any break below targets 0.9815 (89- day EMA )/0.9755 (20- day MA).

The near term major resistance is around 0.9955 and any violation above will take the pair till 1.000/1.00681. The pair should break above 1.00680 for further upside.

It is good to sell on rallies around 0.9905-0.9910 with SL 0.9960 for the TP of 0.9815/0.9755.