Major support - 0.9845
USD/CHF was trading lower for 4th consecutive day on account of Brexit uncertainty and stock market selling. US markets has shown a minor jump of 3% after hitting 9-month low yesterday. The declining US 10 bind yield and yield curve inversion also supporting Swiss Franc. The pair hitting intraday low of 0.98632 and is currently trading around 0.98714.
On the lower side, near term support is around 0.98850. Any convincing break below will drag the pair till 0.9840 (200- day MA)/0.9785.Any daily close below 0.9840 confirms bearish continuation.
The major resistance is around 0.9920 and any break above targets 0.9950/0.9970 1.0010. The pair should break above 1.010 for the further bullishness.
It is good to sell on rallies around 0.9905-10 with SL around 0.9950 for the TP of 0.9845/0.97800.
