Major resistance-1.0050
USDCHF is consolidating after hitting high of 1.00463 on Apr 11th 2019.It hits low of 0.99971 and shown a good recovery above parity level.USD is trading slightly positive against Swiss franc and Yen shows that easing geo political tension has increased risk appetite. University of Michigan consumer sentiment index data came slightly below estimate. It came at 96.90 missing estimates of 98.20. The pair hits intraday high of 1.00280 and is currently trading around 1.00196.
On the higher side,any break above 1.0050 confirms minor bullishness and a jump till 1.00680 possible.Any convincing break above 1.00680 will take the pair till 1.010/1.0125. Any break above 1.0125 confirms major trend reversal.
The near term support is around 0.9985 (55- day EMA) and any break below targets 0.9950/0.9900/0.9860.
It is good to buy on dips around 1.000 with SL around 0.9970 for the TP of 1.010/1.0120.
