The Swiss franc was trading higher against all major pair and hits high of 0.98743 after breaking support and 20 –day MA at 0.9930. It is currently trading around 0.98793.
Technically, intraday trend is mildly weak, a further dip till 0.9850/0.9805 is likely. The pair’s near term support is around 0.9850 (233- day MA).Any break below will drag the pair to next level till 0.9805 ( of 0.9420 and 1.00390)/0.9770. Long term weakness only below 0.9705.
The major resistance is around 0.9930 (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.