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Short

USD/CHF Trade idea

FX:USDCHF   U.S. Dollar / Swiss Franc
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Major support – 0.9980 (200 HMA )

Major resistance -1.0036 (hourly Kijun-Sen)

The pair formed a temporary top around 1.00998 and started to decline from that level on account of weak U.S economic data. It is currently trading around 0.99830.
US retail sales increased 0.4% in previous month compared to 0.6% and consumer price rose at 0.2% in Apr drop in the prior month. The increase in CPI will defer the US Fed rate hike in the June.

The pair is trading near 200- HMA and any close below will drag the pair down till 0.9945 ( 61.8% retracement of 0.98533 and 1.00998)/0.9900. USD/CHF should break below 0.9800 for further weakness.

On the higher side, 1.0036 will be acting as major intraday resistance and any break above will take the pair till 1.0070/1.01075. Any violation above 1.01075 will take the pair till 1.0175.

It is good to sell on rallies around 0.9985-0.9990 with SL around 1.00360 for the TP of 0.9855/0.9813.
i think its not go sell now, its buy bcoz eur usd not go high
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