USDCHF has lost more than 150 pips on account of renewed trade tensions between US and China. US and China trade talks end with no deal. China will raise tariff on $60 billion in US goods and will increase tariffs on more than 5000 US products. It hits low of 1.00499 and is currently trading around 1.00749.
On the higher side near term resistance is around 1.0100 and any break above will take the pair to next level till 1.01250/1.01750.
The major support is around 1.0050 and any violation below will drag the USDCHF till 1/0.9948 (200- day MA).
It is good to sell on rallies around 1.010 with SL around 1.0150 for the TP of 1.000/0.9948.
