USDCHF is consolidating after hitting low of 1.00086 on Friday. Swiss GDP came better than expected this quarter. It rose by 0.6% QoQ in 1Q19 compared to forecast of 0.4%.Swiss franc is gaining strength against all majors due to ongoing political uncertainty.Markets eye CB consumer consumer confidence for further direction.
On the lower side, major support is around 1.000 level and any break below will drag the pair down till 0.9958 (200- day MA)/0.9900.Any major weakness only below 0.9890.
The near term resistance is around 1.00750 and any violation above targets 1.010/1.0120. Any break above 1.0120 will take the pair to next level till 1.0175/1.0250.
It is good to sell on rallies around 1.0055-60 with SL around 1.0080 for the TP of 0.9958.
