Major resistance 0.99580-60 (200- day MA)
USDCHF has once again declined after showing a jump till 0.99502. The pair declined nearly 100 pips and hits low of 0.98590. It recovered slightly on slight easing in US-Mexico trade war.The pair was trading weak for past 40 days and lost more than 350 pips on trade war tension and declining bond yield which has increased demand for safe haven assets like yen,gold and Swiss franc. US economy has added 77000 in May compared to forecast of 180000 and average earnings has declined to 0.2% compared to 0.3%.It is currently trading around 0.99106.
On the higher side, near term resistance is around 0.9958 and any break above will take the pair to next level till 0.9980/1.000/1.0025
The near term support is at 0.9840 and any violation below will take the pair to next level till 0.9780/0.9750.
It is good to sell on rallies around 0.9945-50 with SL around 1.000 for the TP of 0.9845.
