USDCHF has recovered more than 100 pips in the trading session after a steep fall on Friday due to the US and China trade war escalation. US President twitted that China wants to re-start trade talks and a slight easing of a trade war is putting pressure on the Swiss franc. It hits an intraday high of 0.98110 and is currently trading around 0.98032.
On the flip side, near term support is around 0.9770 and any violation will drag the pair to the next level till 0.9730/0.9690/0.9660. Any break below 0.9660 confirms bearish continuation.
The near term resistance is around 0.98030 and any break above will take the USDCHF till 0.9870/0.9925. The decline from 1.02369 will come to end only if USDCHF trades above 0.9980.
It is good to sell on rallies around 0.9835-40 with SL around 0.9900 for the TP of 0.9690.
