USDCHF continues to trade lower for 4th consecutive day after forming a temporary top around 1.01242 on Mar 7th 2019. The decline was mainly due to broad based selling in US dollar .US dollar index has lost more than 100 pips after hitting high of 97.71 almost a double top. The pair hits low of 1.00181 and is currently trading around 1.0227.
On the higher side, near term resistance is around 1.0060 and any violation above targets 1.010/1.01285. Any break above 1.01285 confirms that bear trend has stopped around 0.97162 and jump till 1.0175/1.0340 is possible.
The near term support is around 1.0019 (200- 4H MA) and any break below will take the pair to next level till 0.9990/0.9950/0.9918 (200- day MA).
It is good to sell on rallies around 1.0030-325 with SL around 1.0060 for the TP of 0.9980/0.9958.
On the higher side, near term resistance is around 1.0060 and any violation above targets 1.010/1.01285. Any break above 1.01285 confirms that bear trend has stopped around 0.97162 and jump till 1.0175/1.0340 is possible.
The near term support is around 1.0019 (200- 4H MA) and any break below will take the pair to next level till 0.9990/0.9950/0.9918 (200- day MA).
It is good to sell on rallies around 1.0030-325 with SL around 1.0060 for the TP of 0.9980/0.9958.
Comment:
Target 1 achieved