USD/CHF is trading higher for 2nd consecutive day and jumped more than 70 pips jump. The pair is struggling to break above parity level 1.000.It hits intraday high of 0.99796 and holding around that level.US jobs data came better than expected and it has added 304000 jobs in month of Jan compared to 190K in Dec but unemployment rate has jumped to 4%.US-China trade deal and Brexit uncertainty are expected to support Swiss franc. The pair is currently trading around 0.99795.
The near term major resistance is around 1.0010 and any convincing break above targets 1.0068/1.0130. Any break above 1.013 confirms minor trend reversal and a jump till 1.0340 is possible.
On the lower side, near term support is around 0.9950 (200- day MA) and any break below targets 0.9900 (200-day MA)/0.9840/0.9800.
It is good to sell on rallies around 0.9980-825 with SL around 1.0010 for the TP of 0.9905.
