Swiss Franc was major mover previous and it has tumbled sharply as safe haven funds flowed out in accelerated pace. Franc declined almost 2.5- 3% against all majors. The current slide in Swiss franc was mainly due to policy divergence between ECB and SNB.
The Pair’s major trend line resistance is around 0.97000 and any daily close above will confirm bullish continuation. Any close above will take the pair till 0.9808 (May 30th high)/0.9940 (200- day MA) is possible.
On the lower side, any further bearish continuation happens only below 0.9437 level and break below will drag the pair down till 0.92835 (161.8% retracement of 0.94385 and 0.97210).The minor support is around 0.9650/0.9598 (21- day EMA).
It is good to buy on dips 0.9660-0.9665 with SL around 0.9598 for the TP of 0.9808/0.9900
The Pair’s major trend line resistance is around 0.97000 and any daily close above will confirm bullish continuation. Any close above will take the pair till 0.9808 (May 30th high)/0.9940 (200- day MA) is possible.
On the lower side, any further bearish continuation happens only below 0.9437 level and break below will drag the pair down till 0.92835 (161.8% retracement of 0.94385 and 0.97210).The minor support is around 0.9650/0.9598 (21- day EMA).
It is good to buy on dips 0.9660-0.9665 with SL around 0.9598 for the TP of 0.9808/0.9900
