USD/CHF shown a minor jump above 1.000 level and not able hold above that level on account of dovish Fed Chairman statement. Fed Chairman Powell said that interest rates are below “neutral level” and this indicates that Fed will pause the rate hike for a while. The US dollar was trading weak against all majors It has lost more than 80 pips from temporary top formed around 1.00058 and is currently trading around 0.99209.
On the lower side, near term support is around 0.99088 low made on Nov 20th 2018. Any violation below targets 0.9985/0.9800 level.
The major resistance is around 1.00012 (200- 2H MA) 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 0.9950 with SL around 1.000 for the TP of 0.9800.
