USDCHF is trading extremely strong and jumped above 1.0050. The pair hits intraday high of 1.00790 level on account of broad based US dollar and easing trade war tension. DXY has rebounded sharply and jumped more than 50 pips and hits 1-1/2 month high. But US and China trade talks and Brexit uncertainty are major factors which are expected to increase demand for safe haven assets .It is currently trading around 1.00753.
On the higher side, the pair is trading slightly above 1.00680 and this confirms minor bullishness and a jump till 1.0100/1.01285 is possible.Any major trend continuation only above 1.0130.
The near term support is around 1.0030 (resistance turned into support) and any break below will take the pair till 1.000/0.9970/0.9950/0.9900 (200- day MA).Any daily close below 0.9900 confirms major weakness.
It is good to buy on dips around 1.0050-55 with SL around 1.0020 for the TP of 1.0130.
