Potential Reversal Zone (PRZ) –1.0450 (Jan 30th high)
USD/CHF recovers sharply from the low of 0.99297 yesterday and has broken major resistance at 1.000 (21- day MA).The pair jumped till 1.00240 at the time of writing. It is currently trading around 1.00234.
The minor weakness can be seen below 0.9900 and any break below will drag the pair till 0.9860 (200- day MA)/0.9790.
On the higher side, 1.0450 will be acting as immediate resistance and any break above this level will take the pair till 1.0070/1.01225 (Jan 19th high).
Short term weakness only below 0.98600 level.
It is good to buy on dips around 1.0015-1.0020 with SL around 0.9980 for the TP of 1.0070/1.0120
USD/CHF recovers sharply from the low of 0.99297 yesterday and has broken major resistance at 1.000 (21- day MA).The pair jumped till 1.00240 at the time of writing. It is currently trading around 1.00234.
The minor weakness can be seen below 0.9900 and any break below will drag the pair till 0.9860 (200- day MA)/0.9790.
On the higher side, 1.0450 will be acting as immediate resistance and any break above this level will take the pair till 1.0070/1.01225 (Jan 19th high).
Short term weakness only below 0.98600 level.
It is good to buy on dips around 1.0015-1.0020 with SL around 0.9980 for the TP of 1.0070/1.0120
