FxWirePro: USD/CHF trades above 1.000 level, any convincing break above 1.0060 confirms bullish continuation

• USD/CHF has shown a huge recovery of more than 150 on account of strong USD US 10 year bond yield hits 2 week high after hawkish comment by Fed Chairman Powell. He has mentioned that US economy is growing faster with job market remains stronger and inflation will stay near 2%. The central bank said it is on the track to gradually raise interest rates. The pair pared most of its loss made on Tuesday.US 2- year yield hits 10 year high at 2.6290% and spread between US -2 year and US 10 year yield has narrowed to 23 basis point. The downside is capped due to policy divergence between US fed and SNB.The pair hits intraday high of 1.00395. It is currently trading around 1.00373.  
   
• On the higher side, near term resistance is around 1.00680 and any violation above will take the pair to next level till 1.010/1.0180.
   
• The near term major support stands at 0.9930 (50- day MA) and any break below targets 0.988 (55- day EMA)/0.9800. The minor support is around 0.9975.

It is good to buy on dips around 1.0015-20 with SL around 0.9965 for the TP of 1.010/1.018.