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USD/CHF Trend line break out

FX:USDCHF   Dolar U.S./Franc Swiss
176 0 7
Major intraday Resistance -0.9920 ( trend line joining 0.99777 and 0.99356).

USD/CHF             has formed a temporary top around 0.99777 and started to decline from that level. The pair declined till 0.98909 and is currently trading around 0.99236.

The pair breaks intraday trend line resistance at 0.99200 and jumped till 0.99245. Any hourly close above trend line will take the pair to next level till 0.99356/0.9975.

Market awaits US FOMC meeting to be held today for further direction.

On the lower side, major support is around 0.9880 (233- HMA ) and any break below will drag the pair to next level till 0.9845/0.9805. Short term bullish invalidation only below 0.9705.

It is good to buy on dips around 0.9918-0.9920 with SL around 0.9880 for the TP of 0.9980/1.000.
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