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USD/CHF: Buy on dips :FxWirePro | October 25, 2017
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• USD/CHF 0.26% has shown a minor selling after hitting high of 0.98812 yesterday and has broken high 0.98812 made on Oct -1.36% 23rd 2017. Short term trend is still bullish as long as support 0.9705 holds. The intraday weakness can be seen below 0.9800 (10- day MA) level. It is currently trading around 0.98570. The main reason for dip in Swiss franc -0.22% was mainly due to easing geo -3.58% political tensions in North Korea which has reduced demand for safe haven assets.
• On the lower side, near term support is around 0.9775 (10- day MA) and any break below will drag the pair to next level till 0.9730/0.9705/0.9680. Short term bearish continuation only below 0.9640. Overall long term support is around 0.9420.
• The near term resistance is around 0.9865 and any convincing break above will take the pair to next level till 0.9900/0.9950.
It is good to buy on dips around 0.9820 with SL around 0.9770 for the TP of 0.9900/0.9990.
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