USD/CHF breaks major resistance at 0.9700, jump till 0.9900 likely

• USD/CHF has shown a massive recovery after forming a bottom around 0.94385. The pair hits high of 0.9720 at the time of writing. It is currently trading around 0.96735.
   
• The break of 0.97000 resistance confirm that bottom has formed at 0.94385 and a further jump till 0.9808 (May 30th high)/0.9940 (200- day MA) is possible.
   
• On the lower side, any further bearish continuation happens only below 0.9437 level and break below will drag the pair down till 0.92835 (161.8% retracement of 0.94385 and 0.97210).The minor support is around 0.9650/0.9589 (21- day EMA).

It is good to buy on dips 0.9660 with SL around 0.9600 for the TP of 0.9808/0.9900

 Resistance
                   

R1- 0.97200

R2 -0.9778
 

R3- 0.9808
 

Support   
 

S1-0.9650
 

S2-0.9589
 

S3-0.9500