USDCHF is trading higher for 6th consecutive day and jumped more than170 pips on account of easing geopolitical tensions. The trade optimism between US and China has increased demand for risky assets such stocks. The pair has formed a minor bottom around 0.97165 and recovered nearly 2.45% from the low. The pair hits high of 0.99783 and is currently trading around 0.99782.
The near term major resistance is around 1.0010 and any convincing break above targets 1.0068/1.01300. Any break above 1.0130 confirms that pair has formed minor bottom at 0.97169.
On the lower side, near term support is around 0.9925 and any violation below will drag the pair to next level till 0.9870/0.9840/ 0.9790/0.9735/0.9700.
It is good to buy on dips around 0.9920-225 with SL around 0.9865 for the TP of 1.00680.
