USD/CHF shown a minor recovery after declining slightly below 0.9700. The pair makes the low of 0.96938 and is currently trading around 0.97650.
In the hourly chart the pair is trading slightly above Tenkan-Sen and Kijun-Sen. It is facing strong resistance around 0.97650 and minor bullishness only above that level.
The pair has formed major top around 1.03435 and declined sharply from that level. The pair is facing strong trend line support at 0.9720 (trend line joining 0.90786 and 0.95493) and any further bearish continuation can be seen only if it closes below that trend line.
The near term major support is around 0.96788 and break below targets 0.96170.
On the higher side near term resistance is around 0.9765 and any break above will take the pair till 0.9820 (support turned into resistance)/0.9860.The pair is neutral phase for the long term and it should break above 1.03435 for further bullishness.
It is good to buy above 0.9765 with SL around 0.9715 for the TP of 0.9815/0.9860.
In the hourly chart the pair is trading slightly above Tenkan-Sen and Kijun-Sen. It is facing strong resistance around 0.97650 and minor bullishness only above that level.
The pair has formed major top around 1.03435 and declined sharply from that level. The pair is facing strong trend line support at 0.9720 (trend line joining 0.90786 and 0.95493) and any further bearish continuation can be seen only if it closes below that trend line.
The near term major support is around 0.96788 and break below targets 0.96170.
On the higher side near term resistance is around 0.9765 and any break above will take the pair till 0.9820 (support turned into resistance)/0.9860.The pair is neutral phase for the long term and it should break above 1.03435 for further bullishness.
It is good to buy above 0.9765 with SL around 0.9715 for the TP of 0.9815/0.9860.