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Long

USD/CHF faces strong resistance at 0.9840, buy on dips

FX:USDCHF   U.S. Dollar/Swiss Franc
83 0 3
Major resistance -0.9760 (200 4H MA)

USD/CHF             has recovered from the low of 0.9685 made on yesterday. It is currently trading at 0.97795. Short term decline from 0.9960 till 0.9512 will come to end if the pair closes well above 0.9840.

On the higher side, major resistance is around 0.9840 and any indicative break above 0.9840 will take the pair till 0.9900/0.9960 in the short term.

Any short term weakness can be seen only below 0.9670 (21 day MA) and any violation below targets 0.9630/0.9580/0.9520.

Overall bullish invalidation only below 0.9500.

It is good to buy at dips around 0.9750 with SL around 0.9670 for the TP of 0.9840/0.9900/0.9960
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