FxWirePro: USDCHF holds above 55-day EMA, jump till 1.00680 likely

Major support - 0.9900

USDCHF has broken major resistance 0.9975 after a long consolidation for past six days. It hits high of  0.99958 at the time of writing.US dollar is trading higher against all majors on broad based dollar buying and better than expected US ISM manufacturing data.The data for month of Mar came at 55.3 an increase of 1.1% from 54.2.DXY has jumped nearly 150 pips from low of 95.74 and any break above 97.40 confirms further bullishness.US 10 year yield also on the upside and recovered more than 7%. Markets eye US durable goods order for further direction. The pair has formed temporary top around 1.01245 and is currently trading around 0.5.

On the higher side,1.000 is acting as near by resistance and any break above will take the pair till 1.0030/1.00680/1.010.

The near term support is around 0.9970 and any break below targets 0.9950/0.9900.

It is good to buy on dips around 0.9975-80 with SL around 0.9930 for the TP of 1.00680.