• FxWirePro: USD/CHF breaks trend line resistance, jump till 0.9978 likely

    Source: FxWire Pro - Technicals / 26 Dec 2017 06:40:31   Eastern Standard Time

    • USD/CHF recovered almost 70 pips from the low of 0.98284. The pair is consolidating below 78.6% retracement at 0.99786. The pair was trading flat after mixed economic data from US. Headline US durable goods order rose 1.3% in Nov below forecast of 2.2%. US Personal income came at 0.3% compared to expectations of 0.4% and spending rose to 0.6% compared to forecast of 0.5%. The pair hits high of 0.99115 yesterday and is currently trading around 0.99090.
    • On the higher side, near term resistance is around 0.99345 (Dec 15th 2017 high) and any break above will take the pair to next level till 0.9977 (Dec 8th 2017 high)/1.000. It should break above 1.0040 for short term bullishness.
    • The near term support is around 0.9835 and any violation below that level will drag the pair to next level till 0.9810 (200 – day EMA)/0.9770/0.9735.

    It is good to buy on dips around 0.9885-90 with SL around 0.9830 for the TP of 0.9975/1.000.