Major resistance - 1.0030
USDCHF trading lower after a minor jump till 0.99705 after the release of US CB Consumer confidence data. US Conference Board consumer confidence came at 125.9 compared to a forecast of 128.2. Markets eye US Fed dot plot and policy statement tomorrow for further direction. The overall trend is weak as long as resistance 1.0030 holds.
The US and Sino partial trade deal are expected to be signed on Nov 17th in Chile meeting between Donald Trump and Xi Jinping.
On the lower side, major support is around 0.9900 and any violation below will drag the pair to the next level till 0.9840/0.9800.
Major trend reversal can happen only above 1.0030 and any violation above targets 1.0060/1.010.
It is good to sell on rallies around 0.9955-58 with SL around 1.0030 for the TP of 0.9840.
