 - EconoTimes)
Major resistance -- 0.9960
USDCHF consolidating in narrow range between 0.99625 and 0.98590 for past 5 trading days. The pair hits intraday high of 0.99602 and shown a minor dip. It is currently trading around 0.99497.
The major trend reversal can happen only above 0.9960 and any violation above targets 1.000/1.0025.
The renewed trade tension and hopes of rate cut is supporting Swiss franc. Overall trend was weak for past 10 days and lost more than 250 pips.
On the lower side, major support is at 0.9920 and any indicative break below will drag the pair to next level till 0.9850. Major weakness below 0.98500.
It is good to buy above 0.9960 with SL around 0.9920 for the TP of 1.0025.
