USDCHF is consolidating after a continuous five days of bullish trend.It hits high of 1.00562 and shown a minor decline. The pair has recovered nearly 130pips from low of 0.99264 on hopes of US-China trade deal and broad based US dollar buying. But Brexit uncertainty is major factor which prevents Swiss franc from further weakness. It hits low of 1.00316 and is currently trading around 1.00376.
The near term support is around 1.00260-70 (23.6% fib) and any violation below targets 1.000/0.9965-70/0.9925. It should break below 0.900 for further weakness.
The major trend reversal resistance is around 1.01285 high made on Nov 13th 2018 and any violation above confirms trend reversal. Any break above targets 1.0175/1.03400.
It is good to buy on dips around 1.0020 with SL around 0.9980 for the 1.010/1.012
