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The pair is trading weak continuously for four trading days. It has lost more than 150 pips from the temporary high of 0.99829 made on Aug15th 2018.The pair has recovered nearly 50 pips after hawkish comment by fed in meeting minutes held yesterday. But escalating trade tension between US and China is supporting prices of Swiss franc which is considered as safe haven.The pair hits low of 0.98058 and is currently trading around 0.98285.
The pair has closed below 100- day MA for two consecutive days and this confirms minor weakness 0.9725 is possible.
On the higher side , near term resistance is around 0.9860 and any break above targets 0.9900/0.9925/0.9985/1.000. It should break above 1.000 for further bullishness.
It is good to sell on rallies around 0.9860-65 with SL around 0.9900 for the TP of 0.9785/0.9725.
