USDCHF is consolidating for past three trading days between 1.02305 and 1.01689.SNB Chairman Jordan said that negative rates are appropriate and necessary .Further rate hikes depends on inflation and economic developments. Markets eye US GDP data to be released today for further direction.It hits 13 month high at 1.02305 and is currently trading around 1.02050.The jump was mainly due to broad based US dollar buying and easing trade tension has decreased demand of safe haven assets.
The near term support is around 1.0178 (5- day MA) and any break below will take the pair to next level till 1.0125/1.0100.
The major resistance is around 1.02500 and any convincing break above targets 1.0300/1.03400.
It is good to buy on dips around 1.0180 with SL around 1.0145 for the TP of 1.01295.
