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Chart Pattern- Descending Triangle pattern
Major support- 0.9980
USDCHF has broken major support 0.9980 and declined till 0.99621. The pair has shown a good recovery till 1.00154. It is struggling to close above parity level. DXY is trading lower currently after showing a minor jump till 96.19. The pair hits intraday low of 0.99642 and is currently trading around 0.99643.
On the lower side, near by support is around 0.9950 and any break below will drag the pair to next level till 0.9900. Minor weakness can be seen only below 0.9900.
The major near term resistance is around 1.0030 and any break above will take the pair to next level till 1.00680/1.010.
It is good to sell on rallies around 0.9980-825 with SL around 1.0020 for the TP of 0.9900.
