• USD/CHF has shown a minor selling after hitting high of 0.98812 yesterday and has broken high 0.98812 made on Oct 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 was mainly due to easing geo 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.
• 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.