USDCHF has shown a good recovery of more than 50 pips from a low of 0.98980. The broad-based US dollar buying and a slight easing of US-China trade tensions are supporting at lower levels. DXY is trading higher and any break above will take the index till 99.60/100. The intraday trend is still bullish as long as support 0.9900 holds. It hits a high of 0.99637 and is currently trading around 0.99625.
With no major economic data today markets eye Chicago PMI for further direction. US 10- year yield is trading higher for the day and jumped more than 2%.It is currently trading around 1.69%.
The near term resistance is around 0.9980 and any violation above targets 1.000/1.0030.
On the flip side near term support is around 0.9900 and any violation below 0.9840/0.9800. Minor trend reversal only below 0.9770.
It is good to buy on dips around 0.9928-30 with SL around 0.9900 for the TP of 1.000.
