Major Resistance - 0.98460 (200-W MA)
USDCHF trades higher and jumped more than 150 pips from low of 0.96938. The recovery was mainly due to easing trade tension between the US and China. US and China are set to restart trade talks and to not impose further tariffs on China. It hits an intraday high of 0.98434 and is currently trading around 0.98325.
The near term major resistance is around 0.98460 (200- W MA) and any break above will take the pair to next level till 0.9900/0.9930.
On the flip side, near term support is around 0.98000 and any violation below will drag the pair till 0.9750/0.9690.
It is good to buy on dips around 0.9800 with SL around 0.9750 for the TP of 0.9930.
