Major resistance - 1.0010
USD/CHF was trading lower for 3rd consecutive day on account of global stock market selling and declining 10-year yield. US Non Farm Payroll data which has been released on Friday came slightly weaker than expected. The huge sell-off in stock markets especially S&P500 has lost more than 3% on weak US bond yield and escalation of new tension between US and China is one of main reason for jump in Swiss franc. The pair hitting intraday low of 0.98700. It is currently trading around 0.98830.
On the lower side, near term support is around 0.98850. Any convincing break below will drag the pair till 0.9840 (200- day MA)/0.9800.Any daily close below 0.9840 confirms bearish continuation.
The major resistance is around 0.9920 and any break above targets 0.9950/0.9970 1.0010. The pair should break above 1.010 for the further bullishness.
It is good to sell on rallies around 0.9928-30 with SL around 0.9970 for the TP of 0.9845.