USD/CHF has shown a massive sell-off after forming temporary top around 1.01285. The pair lost more than 150 pips. The Swiss franc has gained strength against all majors after renewed trade war between US and China. The trade summit happened in Papua New Guinea has failed to reach agreement between US and China and widened the rift between them. The pair hits low of 0.99690 and is currently trading around 0.99707.
On the higher side, near term resistance is around 1.000 and any break above targets 1.00280 (20- day MA)/1.00680.
The near term major support is around 0.9950 and any break below targets 0.9935 (55 day EMA)/0.9903/0.9850.
It is good to sell on rallies around 1.000 with SL around 1.0028 for the TP of 0.9905.
