Major resistance - 1.0010
USD/CHF has once again declined after showing a minor jump above 1.000 level. It hits high of 1.00051 and started to decline from that level.The pair shown a huge recovery from yesterday low of 0.99902 and is currently trading around 0.99753.The declining US 10 year bond yield and yield curve inversion is supporting Swiss franc.
On the lower side, near term support is around 0.9970. Any violation below will drag the pair till 0.9950/0.9900.Further weakness below 0.9900 confirms further weakness.
The major resistance is around 1.0010 and any break above targets 1.00680/1.0125. The pair should break above 1.0130 for the further bullishness.
It is good to sell on rallies around 0.9980-825 with SL around 1.0010 for the TP of 0.9900.
