FxWirePro: USD/CHF breaks major support at 0.9570, dip till 0.9435 likely

• USD/CHF has broken major support 0.9570 after showing a recovery till 0.9660. The pair declined almost 90 pips from the low. It has recovered till 0.96667 and is currently trading around 0.9550.
   
• US 2- year yields hits 2008 high at 2.128% after better than expected U.S initial jobless claim. U.S jobless claims came at 22000 lowest level in 45 years. U.S 10 –year bond yield raised till 2.61% from the low of 2.49%. Any break above 2.62% confirms bullish continuation. The strength in US bond yields will support price of USD but this time it is decoupling with each other.
   
• Intraday trend of the pair is weak and it should break above 0.9670 for further jump. The near term resistance is around 0.9670 and any break above will take the pair to next level till 0.9705/0.9737 (233- H MA)/0.9775 (50% Fibo). Short term bullishness will be above 0.9845.
   
• On the lower side, major support is around 0.9550 (61.8% fibo) and any break below targets 0.9500/0.9435. Overall bullish invalidation only below 0.9420.

It is good to sell on rallies around 0.9575-80 with SL around 0.9630 for the TP of 0.9500/0.9435.