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FxWirePro: USDCHF fails to cross 1.0100, dip till 1.000 likely

USDCHF shown a minor recovery of more than 80 pips from low of 1.00083 broad based US dollar buying. But US 10 year yield is trading extremely lower and hits fresh 19-month low at 2.22%. The spread between US 3 month and 10 year yield has widened sharply nearly 10 basis point. The pair hits high of 1.00980 and is currently trading around 1.00600.

 

The near term major resistance is around 1.0100 and any violation above will take the pair to next 1.0125. Major bullishness only above 1.01250.

 

On the lower side,, near term support is around 1.0050 and any convincing break below targets 1/0.9958.

 

It is good to sell on rallies around 1.0080-85 with SL around 1.0125 for the TP of 1/0.9958.

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