USD/CHF breaks above 21- EMA, a slight jump till 0.9808 likely
USD/CHF recovered overnight as Fed delivered the widely expected rate hike. The pair jumped after hitting low of 0.96450 and is currently trading around 0.97445.
Fed increased interest rates by 25bpbs from 1% to 1.25% and maintained its interest rate projections unchanged for 2017 and 2018.
Technically the pair has been facing strong resistance around 0.97350 (21- EMA) and any close above will take the pair till 0.9780/0.9808 (May 30th 2017 high).
On the lower side, major support is around 0.9615 and any break below will drag the pair down till 0.9580/0.9520 (161.8% retracement of 0.9614 and 0.97393).
It is good to buy on dips around 0.9735 with SL around 0.9670 for the TP of 0.9808/0.9845.
Fed increased interest rates by 25bpbs from 1% to 1.25% and maintained its interest rate projections unchanged for 2017 and 2018.
Technically the pair has been facing strong resistance around 0.97350 (21- EMA) and any close above will take the pair till 0.9780/0.9808 (May 30th 2017 high).
On the lower side, major support is around 0.9615 and any break below will drag the pair down till 0.9580/0.9520 (161.8% retracement of 0.9614 and 0.97393).
It is good to buy on dips around 0.9735 with SL around 0.9670 for the TP of 0.9808/0.9845.