USDCHF is trading higher for the past four days and hits high of 0.99684 yesterday. The pair hits low of 0.99210 and is currently trading around 0.99543. The major movement can be seen only after the Fed monetary policy. Markets have already factored 25 bps rate cut but investors focus on dot plot for a third rate cut. The probability of rate cut has decreased slightly and any stand by Fed will have a positive impact on U dollar. It hits an intraday high of 0.99577 and is currently trading around 0.99545.
On the flip side, near term support is around 0.9920 and any violation below will drag the pair till 0.9855/0.9800.
The near term resistance is around 0.99758 high made on Aug 1st, 2019 and any break above targets 1.000/1.0030 level.
It is good to buy on dips around 0.9948-50 with SL around 0.9920 for the TP of 1.0030.
