Major resistance-1.0030
USDCHF is trading in narrow range between 1.00122 and 0.99779 for past 1-week.With no major release in past 2 days markets waiting for ECB policy ,Fed meeting minutes and EU Brexit summit for further direction.US dollar is trading lower against all majors on broad based dollar selling. IMF has downgraded global growth outlook and EU and US trade tension also slightly supporting safe haven assets.US 10 bond yield is directionless and trading flat. The pair hits intraday high of 1.00134 and is currently trading around 1.00097.
On the higher side,1.0030 is acting as near by resistance and any convincing break above will take the pair till 1.00680/1.010. Any break above 1.0125 confirms major trend reversal.
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 0.9985 with SL around 0.9950 for the TP of 1.010.
