Major resistance 0.9900
USDCHF has declined after a minor jump of more than 50 pips from low of 0.98448. US dollar was trading lower after the Fed opens the door for more rate cuts. US CPI came much better than expected with Core CPI m/m at 0.3% compared to the forecast of 0.2% the highest level since Jan 2018.`Any increase in inflation will curb aggressive rate cut by the Fed. The pair recovered till 0.99079 and is currently trading around 0.98703
On the higher side, near term resistance is around 0.99125 (61.8% fib) and any break above will take the pair to next level till 0.9950/0.9980/1.000/1.0025
The near term support is at 0.9840 and any violation below will take the pair to next level till 0.9780/0.9750.
It is good to sell on rallies around 0.9900 with SL around 0.9955 for the TP of 0.9750.
