USD/CHF broken week long trend line resistance at 0.9567 and shown a minor jump till 0.96775. It is currently trading around 0.96599.
In the hourly chart the pair is trading slightly above hourly Tenkan-Sen and Kijun-Sen.
Short term bearish invalidation can be seen only above 0.9808.Any break above 0.9808 high made on May 30th 2017 will take the pair till 0.9835 (38.2% retracement of 1.00998 and 0.96220)/0.9900/0.9925 (50- day MA). The minor resistance is around 0.9700 (200- H MA)/0.97360 (61.8% retracement of 0.9808 and 0.96220).
The pair declined till 0.9620 (100% projection of 1.0342 to 0.9860 from 1.0099. Any daily close below will 0.9617 will drag the pair down till 0.9580/0.95490 (Nov 9th 2016 low).
Overall bearish invalidation only above 1.03435.
It is good to buy on dips around 0.9650 with SL 0.9617 for the TP of 0.9736/0.9780.
In the hourly chart the pair is trading slightly above hourly Tenkan-Sen and Kijun-Sen.
Short term bearish invalidation can be seen only above 0.9808.Any break above 0.9808 high made on May 30th 2017 will take the pair till 0.9835 (38.2% retracement of 1.00998 and 0.96220)/0.9900/0.9925 (50- day MA). The minor resistance is around 0.9700 (200- H MA)/0.97360 (61.8% retracement of 0.9808 and 0.96220).
The pair declined till 0.9620 (100% projection of 1.0342 to 0.9860 from 1.0099. Any daily close below will 0.9617 will drag the pair down till 0.9580/0.95490 (Nov 9th 2016 low).
Overall bearish invalidation only above 1.03435.
It is good to buy on dips around 0.9650 with SL 0.9617 for the TP of 0.9736/0.9780.