USDCHF has once again declined after a jump till 1.00981. US Q1 GDP came at 3.1% slightly below forecast of 3.2%. US 10 year yield is trading lower after shown a minor recovery of more than 3%.It si trading around 2.25%. The spread between US 3 month and 10 year yield has widened sharply nearly 10 basis point. The pair hits intraday low of 1.00716 and is currently trading around 1.00787.
The near term major resistance is around 1.0100 and any violation above will take the pair to next 1.0125. Major bullishness only above 1.01250.
On the lower side,, near term support is around 1.0050 and any convincing break below targets 1/0.9958.
It is good to sell on rallies around 1.0080-85 with SL around 1.0125 for the TP of 1/0.9958.
