Major resistance - 1.0010
USD/CHF was trading lower after a long consolidation.The pair lost more than 100 pip in past two trading days. It has also broken major support 0.99088 low made on Nov 20th 2018 . The huge sell-off in stock markets is one of main reason for slight jump in Swiss franc.The declining US 10 year bond yield and yield curve inversion is supporting Swiss franc. It is currently trading around 0.99303.
On the lower side, near term support is around 0.98850. Any violation below will drag the pair till 0.9840 (200- day MA)/0.9800.Any daily close below 0.9840 confirms bearish continuation.
The major resistance is around 0.9970 and any break above targets 1.0010/1.00680/1.0125. The pair should break above 1.0130 for the further bullishness.
It is good to sell on rallies around 0.9970-75 with SL around 1.0010 for the TP of 0.9880.
