Major support - 0.9890
USDCHF was trading extremely lower and lost more than 100 pips in past two trading days. The increase in demand safe haven due to geo political tensions is supporting Swiss franc. The yield curve inversion increases fear of recession in US. The pair hits intraday low of 0.99027 and is currently trading around 0.99379.
On the higher side, near term resistance is around 0.9958 (200- day MA) and any break above will take the pair to next level till 0.9980/1.000.
The near term support is at 0.98940 low made on Mar 20th 2019 and any violation below will take the pair to next level till 0.9860/0.98279/0.9780.
Momentum indicator RSI -29 (Over sold)
It is good to buy on dips around 0.9920-225 with SL around 0.9890 for the TP of 0.9980/1.000.
