Major resistance - 1.0010
USD/CHF is trading in narrow range between 0.99088 and 1.00082 for past 2-week. It hits high of 1.00082 and started to decline from that level. 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 0.99767.
On the lower side, near term support is around 0.9950. Any violation below will drag the pair till 0.9930/0.9900.Further weakness below 0.9900 confirms further weakness.
The major resistance is around 1.0010 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 0.9980-825 with SL around 1.0010 for the TP of 0.9900.
