Major resistance 0.9950
USDCHF has broken 0.9855 after a long consolidation. It hits low of 0.98479 and shown a minor jump.US retail sales came at 0.1% compared to forecast of 0.6%. The recent geopolitical tensions between US and Saudi after disappearance of Washington post columnist has increased demand of safe haven currencies like Yen,Swiss franc.
US10 year yield also trading muted after a jump till 3.25%. The spread between US 2 year and 10 year is at 30 bpbs.
On the lower side, near term support is around 0.9855 (23.6% fib) and any break below targets 0.9815 (89- day EMA)/0.9755 (20- day MA).
The near term major resistance is around 0.9955 and any violation above will take the pair till 1.000/1.00681. The pair should break above 1.00680 for further upside.
It is good to sell on rallies around 0.9905-0.9910 with SL 0.9960 for the TP of 0.9815/0.9755.
