- USD/CHF has declined almost 100 pips from the previous week high of 0.96475. The slight jump in Swiss franc was mainly due to increase of safe haven asset as US- China trade war tension escalates. It is currently trading around 0.95558.
- Market eyes US PPI data which his to be released today for further direction. The near term resistance is around 0.9590 (38.2% fib) and any convincing break above will take the pair to next level till 0.9660/0.9700/0.9725.
- On the lower side near term support is around 0.9550 and any break below that level targets 0.9520/0.9480.The pair should break below 0.9420 for further weakness.
It is good to sell on rallies around 0.9580-85 with SL around 0.9635 for the TP of 0.9500/0.9420.
