Major support - 0.9900
USDCHF is trading directionless for past 5 trading day and still below 0.9950. The pair hits high of 0.99703 after forming a minor bottom around 0.98940 on Mar 20th 2019.It has lost more than 200 pips from top formed around 1.01245 on account of broad based US dollar selling and Brexit uncertainty. Global markets shown a major sell-off in past two days on declining US yield and yield curve inversion which has increased demand for safe haven like gold, yen etc. It hits intraday high of 0.99317 and is currently trading around 0.99271.
The near term support is around 0.9900 and any break below targets 0.9860/0.9785.
On the higher side, 0.9968 (89- day EMA) is acting as near by resistance and any break above will take the pair till 0.9995 (50- day MA)/1.0030/1.0060.
It is good to sell on rallies around 0.9955-60 with SL around 1.000 for TP of 0.98000.
