USD/CHF Trades Weak on Brexit Fears, Decline Till 0.9660 Is Possible

USD/CHF Trades Weak on Brexit Fears, Decline Till 0.9660 Is Possible

• Swiss franc has gained significantly after Brexit fears looms. It has recovered after making a low of 0.99510 yesterday. 
• The poll conducted by Ipos Mori of more than 4,000 Britons shows that 45% wants to leave EU while 42% wants to stay in EU. The poll result indicates the shift in favour of leave compared 51% remain and 49% leave EU in the past six polls. 
• The Swiss franc is considered to safe haven currency during market turmoil and is expected to rally strongly on Brexit but relatively stable in the case Brexit fails. 
• Technically major support is around 0.9840 (200 day MA) and any break below will drag the pair down till 0.9787/0.9700/0.9660 level. 
• On the higher side resistance is around 0.9960 and any break above targets 1.000/1.00925/1.0140. 
• Overall bearish invalidation only above 1.03285.
  

It is good to sell on rallies around 0.9900 with SL around 1.000 for the TP of 0.9750/0.9660

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