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- Major resistance – 1.0060
- USDCHF has formed almost a double top at 1.00560 and started to consolidate within narrow range. Any convincing break below 1.000 confirms minor weakness and a dip till 0.9900 is possible.
- The pair’s further bullish continuation can be seen only above 1.0060 level. Any break above 1.0060 will take the pair to next level till 1.010/1.0170 level. The safe haven such as yen and Swiss franc has recovered sharply on account of profit booking.
- On Friday pair declined till 0.99705 and started to decline from that level. So intraday trend is still and any convincing break below 1.000 confirms extreme bearishness.
It is good to sell below 1.000 with SL around 1.0060 for the TP of 0.9905.
