Major resistance - 1.0120
The pair has halted its 5 days of winning streak and shown a minor 30 pips decline. The jump was mainly due to broad based US dollar buying and slight easing geo political tensions. It has formed temporary top around 1.02369 and declined sharply on ongoing trade war tensions between US and China. US President Trump blacklist China’s telecom major Huawei and google suspends some business with Huawei. USDCHF hits high of 1.01216 yesterday and is currently trading around 1.00926.
On the lower side, near term support is around 1.00750 and any violation below will drag the pair till 1.00435/1.000.
The major resistance is around 1.0125 and pair is struggling to break convincingly above that level. Any break above confirms major bullishness and a jump till 1.0175/1.0235.
It is good to buy on dips around 1.0070-75 with SL around 1.0030 for the TP of 1.0175.
