• FxWirePro: USD/CHF trades below 0.9500 level on slightly less Hawkish US FED, good to sell on rallies

    Source: FxWire Pro - Technicals / 22 Mar 2018 06:09:10   Eastern Standard Time

    • USD/CHF has declined sharply almost more than 100 pips from the temporary top around 0.95691. The pair hits low of 0.94594 on slightly less hawkish US fed meeting. It is currently trading around 0.94697.
       
    • The fed hiked interest rate by 25bpbs and dot plot shows that only two more hikes in 2018. The profile for 2019 and particularly 2020 is expected to have more rate hikes.
       
    • Technically, in the daily chart the pair is facing strong resistance at 0.9550 and any break above will take the pair to next level till 0.9570/0.9600/0.9620./0.96650.
    • On the lower side, near term support is around 0.9446 (20- day MA) and any break below will take the pair to next level till 0.9380/0.9350. The major support is around 0.92510.

    It is good to sell on rallies around 0.9490-95 with SL around 0.9550 for TP of 0.9435/0.9380.