FxWirePro: USDCHF breaks ascending triangle resistance, jump till 1.01200 likely

Major resistance-1.0020

USDCHF has broken 1.0020 after long consolidation between 1.00122 and 0.99779 for past 1-week.USD is trading slightly weak against all majors expect Swiss franc after dovish Fed minutes meeting. EU leaders agreed to extend article 50 till Oct 31st 2019 and some of EU leaders already open for further extension beyond Oct 31 st.US 10 bond yield is trading higher after release of US PPI data.It came at 0.6% m/m compared to forecast of 0.3% and core PPI at 0.3% vs estimate of 0.2%.  The pair hits intraday high of 1.00444 and is currently trading around 1.00433.

On the higher side,any break above 1.0020 confirms minor bullishness and a jump till 1.00680 possible.Any convincing break above 1.00680 will take the pair till 1.010/1.0125. Any break above 1.0125 confirms major trend reversal.

The near term support is around 0.9980 and any break below targets 0.9950/0.9900/0.9860.

It is good to buy on dips around 1.00250 with SL around 0.9990 for the TP of 1.010/1.0120.