FxWirePro: USDCHF trades above parity level, markets eye US Non farm payroll

Major resistance- 0.9998 (50- day MA)

USDCHF has broken parity level after long consolidation. It hits high of 1.00030 and is currently trading around 0.99969. US dollar has halted its long winning streak on account of profit booking and easing US and China trade tension. The easing US-China trade tension has decreased the demand for safe haven assets like Gold, yen etc.Markets eye US non farm payroll data which is to be released today for further direction.US economy is expected to add 172000 jobs for month of Mar compared to previous month 20000. US 10 bond yield continues to trade higher for 5 consecutive days and jumped more than 7.5% from 14-month low of 2.34%.

On the higher side,1.000 is acting as near by resistance and any convincing break above will take the pair till 1.0030/1.00680/1.010.

The near term support is around 0.9950 and any break below targets 0.9900/0.9860.

It is good to buy on dips around 0.9990 with SL around 0.9950 for the TP of 1.010.