Harmonic pattern formed- Bullish Bat Pattern
Potential Reversal Zone (PRZ)- 0.9840
USDCHF halted its 4 days of losing streak and shown a minor recovery. The overall trend is still on the higher side as long as support 0.9800 holds. It hits an intraday high of 0.99108 and is currently trading around 0.98972.
On the economic data front, markets eye US retail sales for further direction. Technically, the near term major intraday resistance is at 0.9920, an indicative break over will take the pair to next level till 0.99525/0.9980.
The major support is around 0.9870, violation below targets 0.9840/0.9800.
It is good to buy on dips around 0.9870-725 with SL around 0.9840 for the TP of 0.99780.
