• USD/CHF is trading lower after a minor jump till 0.99577 yesterday. USD was trading slightly higher yesterday on hopes of better than expected US Q2 GDP which is to be released on Friday.The pair has declined more than 140 pips from the high of 1.00434 made on Jul 19th 2018. The escalating trade war between US and China and comments by Donald Trump on fed was the main reason for USDCHF selling. The increasing trade war tension has increased demand of safe haven asset like yen, Swiss franc and gold. US 10 year bond yield has shown a more than 1.5% decline after hitting high of 2.96%. US 2- year yield pared some of its gain after hitting 10 year high at 2.659% and spread between US -2 year and US 10 year yield has decreased from increased from 23 basis point to 34 basis point. The downside is capped due to policy divergence between US fed and SNB.The pair hits low of 0.99010. It is currently trading around 0.99187.  
   
• On the higher side, near term resistance is around 0.9946 (20- day MA) and any violation above will take the pair to next level till 1.000/1.00680/1.010.
   
• The near term major support stands at 0.9900 (55- day EMA) and any break below targets 0.9855/0.9800. The minor support is around 0.9975.
  
  It is good to buy on dips around 0.9900 with SL around 0.9850 for the TP of 1.000/1.010.