Major support - 0.9900
USDCHF is trading in sideways for past 1 week and trading below parity level.The pair is struggling to clear break out above 0.9975 in past two trading day. US dollar was trading higher on declining US 10 year yield and yield inversion. It has jumped nearly 90 pips in previous week and any break above 97.40 confirms further bullishness.But Brexit uncertainty is supporting safe haven demand currency such as Yen,Swiss franc etc. Markets eye US retail sales and US ISM manufacturing data for further direction. The pair has formed temporary top around 1.01245 and is currently trading around 0.99425.
On the higher side, 0.9975-80 (55-day EMA) is acting as near by resistance and any break above will take the pair till 1.000/1.0030/1.0060.
The near term support is around 0.9930 and any break below targets 0.9900/0.9860.
It is good to sell on rallies around 0.99625-65 with SL around 1.0000 for the TP of 0.9860.
