USD/CHF has shown a minor recovery almost 100 pips from the 3- week low of 0.98460. The pair jumped due to slight increase in US bond yield. It hits high of 0.99450 and is currently trading around 0.99227.
US jobless claims rose to 249k in the week ended Nov 11, compared to forecast of 234k. Philly fed manufacturing index dropped to 18.9 below expectations of 24.1. The house would vote on tax plan today.
Technically, the pair took support near 233- day MA and started to recover from that level. Intraday trend is mildly weak, as long as resistance 0.9947 (20- day MA) holds. The pair’s near term support is around 0.9850 (233- day MA).Any convincing break below will drag the pair to next level till 0.9805 (38.2% retracement of 0.9420 and 1.00390)/0.9770. Long term weakness only below 0.9705.
The major resistance is around 0.9947 (20- day MA) and any break above will take the pair to next level till 0.9980/1.000/1.0040. The near term resistance is around 0.9983 (10- day MA)/1.000.
It is good to sell on 0.9925-0.9930 with SL around 0.9970 for the TP of 0.9855/0.9805.
US jobless claims rose to 249k in the week ended Nov 11, compared to forecast of 234k. Philly fed manufacturing index dropped to 18.9 below expectations of 24.1. The house would vote on tax plan today.
Technically, the pair took support near 233- day MA and started to recover from that level. Intraday trend is mildly weak, as long as resistance 0.9947 (20- day MA) holds. The pair’s near term support is around 0.9850 (233- day MA).Any convincing break below will drag the pair to next level till 0.9805 (38.2% retracement of 0.9420 and 1.00390)/0.9770. Long term weakness only below 0.9705.
The major resistance is around 0.9947 (20- day MA) and any break above will take the pair to next level till 0.9980/1.000/1.0040. The near term resistance is around 0.9983 (10- day MA)/1.000.
It is good to sell on 0.9925-0.9930 with SL around 0.9970 for the TP of 0.9855/0.9805.