• Usdchf trades steady, any break above 0.9980 confirm further bullishness

    Source: FxWire Pro - Technicals / 22 Oct 2018 07:43:45   America/New_York

    USD/CHF is trading steady after a minor decline. The pair hits intraday low of 0.99399 and shown a good recovery. It is currently trading around 0.99796.

     

    It has taken support near 5 day MA and any break below 0.9930 confirms minor weakness , decline till 0.9900/0.9850. Any break below 0.9850 confirms further weakness.

     

    On the higher side, near term resistance is around 0.9980 and any break above targets 1.000/1.00680.

    The broad based US dollar buying is the main reason for the jump. The geopolitical tensions between US and Saudi, Italy budget and Brexit will be supporting Swiss franc.

     

    It is good to buy on dips around 0.9950 with SL around 0.9920 for the TP of 1.00680.

     

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