USD/CHF is consolidating after a huge sell-off . The pair has lost more than 150 pips in the previous week . The escalating trade tensions between US and China is supporting prices of Swiss franc. US and China had trade talks recently but it ended with no major developments. US and China imposed tariff of $16 bn on each other goods. The pair recovered till 0.98662 and is currently trading around 0.98231.
The pair’s upside capped by 90- day EMA and any minor bullishness only above that level.
On the higher side , near term resistance is around 0.9877and any break above targets 0.9900/0.9925/0.9985/1.000. It should break above 1.000 for further bullishness.
It is good to sell on rallies around 0.9860-65 with SL around 0.9900 for the TP of 0.9785/0.9725.
