USDCHF is trading lower and lost more than 100 pips from high of 1.00865. The decline was mainly due to ongoing trade war. US will be imposing tariff to Mexico imports due to illegal immigrants to US. US 10 year bond yield declining sharply and hits lowest level since Sep 2017. The yield curve has inverted and spread has widened more than 20 basis point. The pair hits intraday low of 0.99723 and is currently trading around 0.99700.
On the lower side, major support is around 0.9965 and any violation below targets 0.99920/0.9895.
The major resistance is around 1.0025 and any convincing break above will take the pair to next level till 1.0050/1.0075. The pair should cross 1.01200 for further bullishness.
It is good to sell on rallies around 1.000 with SL around 1.00250 for the TP of 0.9900.
