USDCHF has halted its two days of continuous selling and shown a good recovery of more than 100 pips from low of 0.98409. Swiss franc was trading higher for past 1-1/2 month on account of global stock market selling which has increased on increasing safe demand . The global sell-off and Brexit uncertainty has increased demand for safe haven. US Fed was slightly dovish and has reduced rate hike form 3 to 2 for 2019.Markets eye US final GDP for further direction. It is currently trading around 0.99268.
The near term major resistance is around 0.9962 (trend line)and any convincing break above targets 1.0010/1.00680. Any violation above 1.013 confirms minor trend reversal.
On the lower side ,support is around 0.9880 and any violation below will take the pair to next level till 0.9845.
It is good to buy on dips around 0.9920 with SL around 0.9860 for the TP of 1.010.
