USDCHF has shown a decline yesterday after a minor jump till the 1.00266 level. The decline was mainly due to weak US economic data which has increased the hopes of rate cut by the Fed. Markets eye another round of trade talks between US-China which is to happen on Thursday and Friday in Washington. DXY lost more than 100 pips after hitting a 28-month high at 99.67. US 10- year recovered slightly more than 3% from intraday low of 1.513%.
On the higher side, any minor trend continuation if it breaks 1.0030, any violation targets 1.0060/1.0100. Major bullishness only above 1.0125.
The near term support is around 0.99525 (200 -day MA) and any break below will drag till 0.9920/0.9890/0.9840.
It is good to sell on rallies around 1.00175-20 with SL around 1.0030 for the TP of 0.9900
