Major support - 0.9900
USDCHF has shown a quick recovery of nearly 60 pips from low of 0.99053 on account of broad based US dollar buying. US dollar was trading higher on declining US 10 year yield. US 10 year yield declined sharply and hits fresh 14-month low. US 10 year and 3 month inverted for first time since 2007. The pair has formed temporary top around 1.01245 and is currently trading around 0.99585.
On the higher side, 0.9967 (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.
The near term support is around 0.9900 and any break below targets 0.9860/0.9785.
It is good to buy on dips around 0.9920-25 with SL around 0.9890 for TP of 1.000.
