Major Intraday resistance- 0.9900
USDCHF trades higher on easing geopolitical tension between the US and China trade war. The US is expected to roll back $112 billion tariffs on China as a part of the phase one deal, which has increased demand for riskier assets like stocks. Wall Street is surging especially S&P500, Dow Jones hits a fresh all-time high. It jumped till 0.99045 at the time of writing and is currently trading around 0.9900.
Technically near term support is around 0.9840, any violation below will drag the pair down till 0.9800/0.9770.Bearish continuation only below 0.9660
A major intraday jump can be seen only if it violates 0.9950-525 (trend line resistance). The slump from 1.02365 will get over at 0.96635 only if pair trades well above 1.0030.
It is good to buy on dips around 0.9870 with SL around 0.9840 for the 0.99525/1.000.
