Major resistance-1.0050
USDCHF has broken major resistance 1.0050 after long consolidation and hits 1-month high.It hits intraday high of 1.00600 and hovering near high.USD is trading slightly positive against all majors especially against Swiss franc and Yen on easing trade tension which has decreased demand for safe haven assets.Chicago Fed President Evans said that rates to remain unchanged until autumn 2020 and there may a chance of hike if economy meets expectations.
On the higher side, break above 1.0050 confirms minor bullishness and a jump till 1.00680 possible.Any convincing break above 1.00680 will take the pair till 1.010/1.0125. Any break above 1.0125 confirms major trend reversal.
The near term support is around 1.0020 (resistance turned into support) and any violation below will drag the pair till 0.9987 (55- day EMA)/0.9950/0.9900/0.9860.
It is good to buy on dips around 1.0525 with SL around 1.0020 for the TP of 1.0125.
