USDCHF has shown a sharp recovery of more than 100 pips from low of 0.99525. The main reason for the jump is easing geopolitical tensions and broad based dollar buying after hawkish Fed monetary policy. The pair hits high of 1.00755 and is currently trading around 1.00735.
Short term trend is bullish as long as support 0.9950 holds. The near term support is around 1.00340 and any break below targets 1.000/0.9950.
The pair made a high of 1.00681 and started to decline sharply from that eve. It has broken 1.00680 for the second time and this confirms minor bullishness. Any break above 1.00949 made on Oct 31st 2018 confirms bullish continuation and jump till 1.017/1.03400.
It is good to buy on dips around 1.0060 with SL around 1.000 for the TP of 1.017/1.0340.
