Major resistance - 0.9820
USDCHF is consolidating in a narrow range between 0.97711 and 0.98092 after 150 pips. The pair's jump was mainly due to easing the US-China trade war and hopes of stimulus from major central banks.US 10-year bond yield have recovered more than 8% after hitting a 3-year low.US dollar index trades higher and is holding above 98 level. In the short term, it is expected to reach 98.93 high made on Aug 1st, 2019.
On the higher side, near term resistance is around 0.9820 and any convincing break above will take the pair till 0.9865/0.9900. The major trend reversal only above 0.9980.
The near term support is around 0.9770 and any violation below will drag the pair to the next level till 0.9720/0.9690. Any major weakness below 0.9660.
It is good to buy on dips around 0.9770 with SL around 0.9740 for the TP of 0.9900.
