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USD/CHF: Buy on dips : FxWirePro | October 20, 2017
USD/CHF 0.49% has shown a huge recovery after hitting low of 0.97350 yesterday. The pair has broken the double top resistance at 0.98369 and jumped till 0.98450 level. Short term trend is still bullish as long as support 0.9705 holds. It is currently trading around 0.98094.
On the lower side, near term support is around 0.9720 (100- 6H MA) and any break below will drag the pair to next level till 0.9705/0.9680/09640 . Short term bearish continuation only below 0.9705. Overall long term support is around 0.9420.
The near term resistance is around 0.9845 and any violation above will take the pair to next level till 0.9900.
It is good to buy on dips around 0.9755 with SL around 0.9705 for the TP of 0.9845/0.9900.
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