- USD/CHF has shown a good jump of more than 150 pips after hitting low of 0.98530 (Jul 9th 2018 low). The pair hits high of 0.99946 at the time of writing. The pair has formed almost a triple top near 1.000 level and any break above confirms minor trend reversal. The safe haven assets like yen ,Swiss franc and gold lost appeal amid escalating trade war between US and major economies especially with China .It is currently trading around 1.00635.
- On the higher side, 1.000 will be acting as near major resistance and any break above will take the pair to next level till 1.0060 high made on May 10th 2018. Any bullish continuation will take the pair to next level till 1.010/1.0180.The minor resistance is around 0.9945 and any break above will take the pair to next level till0.9965/1.000.
- The near term major support stands at 0.9950 and any break below targets 0.9920/0.9870 (55- day EMA)/0.9800.
It is good to buy on dips around 0.9955-60 with SL around 0.9900 for the TP of 1.0100.
Resistance
R1- 1.0060
R2 –1.010
R3- 1.018
Support
S1- 0.9950
S2-0.9920
S3-0.9850
