USD/CHF downside capped by 100% projection, good to buy on dips
Major resistance – 1.0205 (Nov 30th high)
Major support – 1.00450 (100% projection of 1.0248 and 1.00672 from 1.01817).
The greenback has renewed buying interest after taking support near 100% projection of 1.02048 and 1.00672 measuring from 1.01817 level and jumped slightly till 1.01152 from the low of 1.00495.
Minor trend is looking slightly bullish and a jump till 1.0150 is possible .it should break above the temporary top of 1.0248 for further bullishness. Any break above that level will take the pair till 1.02600/1.0300.
On the lower side, the pair should break below 1.00450 for further selling. Any violation below 1.00450 will take the pair till 1.000/0.9958(161.8% projection).
It is good to buy on dips around 1.0085-1.0090 with SL around 1.00450 for the TP of 1.0150/1.0185
Major support – 1.00450 (100% projection of 1.0248 and 1.00672 from 1.01817).
The greenback has renewed buying interest after taking support near 100% projection of 1.02048 and 1.00672 measuring from 1.01817 level and jumped slightly till 1.01152 from the low of 1.00495.
Minor trend is looking slightly bullish and a jump till 1.0150 is possible .it should break above the temporary top of 1.0248 for further bullishness. Any break above that level will take the pair till 1.02600/1.0300.
On the lower side, the pair should break below 1.00450 for further selling. Any violation below 1.00450 will take the pair till 1.000/0.9958(161.8% projection).
It is good to buy on dips around 1.0085-1.0090 with SL around 1.00450 for the TP of 1.0150/1.0185
