Major trend line resistance - 1.02500
USDCHF is consolidating in narrow range between 1.02369 and 1.01740 level for past three trading days. US Conference Board consumer confidence rose to 129.2 in Apr compared to forecast of 126.20. Markets eye US Fed monetary policy for direction. US dollar index continues to trade lower for 4th consecutive days and declined nearly 90 pips from high of 98.33. The pair hits intraday low of 1.0827 and is currently trading around 1.01836.
The near term support is around 1.0174 (10- day MA) and any break below will take the pair to next level till 1.0125/1.0100.
The major resistance is around 1.02500 and any convincing break above targets 1.0300/1.03400.
It is good to sell on rallies around 1.0205-021 with SL around 1.0250 for the TP of 1.0125/1.0100.
