• FxWirePro: usdchf daily outlook

    Source: FxWire Pro - Technicals / 15 Oct 2018 04:53:42   America/New_York

    Candlestick pattern- Doji and Shooting star

     

    Major resistance  0.9950

     

    USDCHF is consolidating in narrow range between 0.9855 and 99558 for past one week. The pair jumped till 0.99205 and is currently trading around 0.99008.USD was trading higher against Swiss franc for past 10 trading days and has jumped almost 400pips . The recent geopolitical tensions between US and Saudi after disappearance of Washington post columnist has increased demand of safe haven currencies like Yen,Swiss franc.

     

    On the lower side, near term support is around 0.9855 (23.6% fib) and any break below targets 0.9815 (89- day EMA)/0.9755 (20- day MA).

     

    The near term major resistance is around 0.9955 and any violation above will take the pair till 1.000/1.00681. The pair should break above 1.00680 for further upside.

     

    It is good to sell on rallies around 0.9905-0.9910 with SL 0.9960 for the TP of 0.9815/0.9755.

     

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