Major resistance 0.99580-60 (200- day MA)
USDCHF is trading slightly higher for past two days after hitting low of 0.98590 made on Jun 7th 2019.The pair has formed almost a double bottom around 0.9850.The slight jump in this pair was due to slight easing trade tension. US-Mexico trade war eased slightly after Trump said US has planned to drop tariff of 5% to Mexico indefinitely.But US and China trade war and dovish fed is putting pressure on USD.Markets eye US PPI and CPI data for further direction. It is currently trading around 0.99240.
On the higher side, near term resistance is around 0.9958 and any break above will take the pair to next level till 0.9980/1.000/1.0025
The near term support is at 0.9840 and any violation below will take the pair to next level till 0.9780/0.9750.
It is good to sell on rallies around 0.9945-50 with SL around 1.000 for the TP of 0.9845.
