USD/CHF has shown a good recovery of more than 100 pips from the low of0.98675. The poair hgits high of 0.9870 and shown a minor decline. With no major economic data to be released markets eye US PPPI and CPI data to be released this week for further direction. The trade war tensions is slightly supporting Swiss franc but policy divergence between Fed and SNB will prevent further downside. It hits intraday high of 0.99688 and is currently trading around 0.99662.
The near term resistance is around 0.99780 and any break above will take the pair to next level till 1.000/1.00680. Any bullish continuation only above 1.00680.
On the lower side, minor support is around 0.9950 and any violation below will drag the pair down till 0.9900/0.9860/0.9835 (100- day MA)/0.9780 (Jun 7th 2018 low)/0.9755.
It is good to buy on dips around 0.9925-30 with SL around 0.9870 for the TP of 1.000/1.00680.
