USDCHF continues to trade higher for the day after a jump of more than 80 pips yesterday. The pair has broken a major psychological level around 1.000 and jumped till 1.00166 at the time of writing. It is currently trading around 1.00112.
US dollar index has jumped more than 50 pips in the past 2 days and broken major resistance at 99.37. It is hovering around 99.50.
Markets eye US ISM manufacturing PMI data and FOMC member Clarida and Bullard speech for further direction.
On the higher side, near term resistance is around 1.0030 and any violation above will take the pair to next level till 1.0060/1.0100. The major bullishness only above 1.01250.
The near term support is around 0.9950 and any break below will drag the USDCHF till 0.9900/0.9850.
It is good to buy on dips around 1.00025-50 with SL around 0.9950 for the TP of 1.0100.
