USDCHF has shown a minor recovery for the day after hitting a low of 0.99073 at the time of writing. It has formed a minor bottom around 0.98415 and shown a good jump of more than 70 pips on slight easing of Geopolitical uncertainty which has decreased hopes of Safe-haven assets like yen, Swiss franc. It is currently trading around 0.99246. But Brexit risks and development in US-Sino trade talks is the factor to be watched for further movement.
On the flip side, near term support is around 0.9900 and any violation below will drag the pair down till 0.9840/0.9800. Major reversal only below 0.9800 level.
The near-term resistance is around 0.99525 and breaks above targets 0.9978/1.000. Bullish continuation only above 1.0030.
It is good to buy on dips around 0.9910-125 with SL around 0.9865 for the TP of 0.9990.
