FxWirePro: usdchf trades flat, major jump only above 1.0030
Source: FxWire Pro - Technicals / 08 Nov 2019 08:57:00 America/New_York
Major Resistance- 1.0030
USDCHF trades higher for 5th consecutive days and jumped more than 100 pips on broad-based US dollar buying and easing US-China trade tension. The Safe-haven assets demand has diminished a lot after US-China has agreed to roll back tariffs in phases. DXY continues to trade higher and trading above 50-day MA, a jump till 99 likely.
US 10-year is on the higher side and hits 2-month on US-China trade progress. It is holding above major resistance 1.907%, a jump till 2% is possible.
The minor support for the day stands at 0.9940 and any violation below will drag the pair down till 0.9920/0.9900. Any hourly close below 0.9907 (200- H EMA) confirms intraday weakness, a dip till 0.9840 likely.
The major resistance is around 0.99780 and crosses above that level targets 1.000. The decline from 1.02369 will get over if the pair breaks the 1.0030 level.
It is good to buy on dips around 0.9960-625 with SL around 0.9940 for the TP of 1.0030.© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.