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2017.03.2308:22:00UTC+00Fxwirepro:usd/chf Downside capped by 0.98600 Level, Good to Buy on Dips
Major support – 0.99140 (Trend line joining 0.95370 and 0.96788 and 200- day MA).
Major intraday resistance – 0.9960 (support turned into resistance).
USD/CHF has shown minor decline till 0.9880 after breaking major support at 0.99140.The pair shown a dip till 0.99218 yesterday and is currently trading around 0.99247.
On the lower side, major support is around 0.9860 and any close below will drag the pair till 0.97850 (61.8% retracement of 0.95370 and 1.01700).
The minor jump from 0.95370 and 1.03435 will come to end if the pair breaks below 0.98600 level.
The near term resistance is around 0.9960 (support turned into resistance) and any break above will take the pair till 1.000/1.0040 (10- day MA)/1.0060.
It is good to buy on dips around 0.9915 with SL around 0.9860 for the TP of 0.9900/1.0040.
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