Major support - 0.9850
USD/CHF has shown minor jump of more than 50 pips from the low of 0.98675 made yesterday. Market awaits US ADP, US manufacturing and Fed meeting for further direction. The pair has lost more than 180 pips from the temporary high of 1.00434 made on Jul 19th 2018. It is currently trading around 0.99108.
The pair has closed below trend line support for two continuous day and a dip till 0.9828 (100- day MA)/0.9755 (200- day MA) is possible.
The near term resistance is around 0.99168 (23.6% fib) and any break above will take the pair to next level till 0.9946 (20- day MA)/0.9978 (Jul 27th 2018).1/1.00450. The pair should break above 1.00680.
It is good to sell on rallies around 0.9900-05 with SL around 0.9950 for the TP of 0.9755.
