Major resistance 0.99580-60 (200- day MA)
USDCHF is trading in narrow range between 0.98502 and 0.99365 for past three trading days.US dollar index was trading weak due to rate cut hopes on weak economic data especially US Non farm payroll data.US yield is trading on lower side and yield curve is still inverted with spread between US 10 year and 3 month narrowed slightly from 28 basis point from 13 basis point. Markets eye US CPI data for further direction. It is currently trading around 0.99123.
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.
