Major resistance- 0.9998 (50- day MA)
USDCHF halted its two days of uptrend and shown a minor decline. The pair upside capped around 1.000 parity level. US dollar has reversed its up trend and lost nearly 50 pips from high of 97.52 on rising US 10 year bond yield. US10 year yield surged more than 3.5% on Apr 1st highest daily jump in past 4 months on account of better than expected US and China manufacturing data. The pair hits high of 1.000 and is currently trading around 0.99678. Markets eye US ADP employment and ISM services data for further direction.
On the higher side,1.000 is acting as near by resistance and any break above will take the pair till 1.0030/1.00680/1.010.
The near term support is around 0.9950 and any break below targets 0.9900/0.9860.
It is good to buy on dips around 0.9950-55 with SL around 0.9900 for the TP of 1.00680.
