USDCHF has shown a massive recovery of nearly 100 pips from the low of 0.998438 made yesterday. The broad-based US dollar buying and a slight easing of US-China trade tensions.The intraday trend is still bullish as long as support 0.9900 holds. It hits a high of 0.999370 and is currently trading around 0.99343.
Markets eye US final GDP q/q and Fed member Clarida speech for further direction. Technically, near term resistance is around 0.9940-425 and any break above targets 0.9980-825. Intraday trend reversal only above 0.99825.
On the flip side near term support is around 0.9900 and any violation below 0.9840/0.9800. Minor trend reversal only below 0.9770.
It is good to buy on dips around 0.9928-30 with SL around 0.9900 for the TP of 1.000.
