Major resistance 0.99580-60 (200- day MA)
USDCHF trades in narrow range between 0.9835 and 0.99628. The pair declined more than 50 pips after hitting high of 0.99628. The pair was trading weak for past 40 days and lost more than 350 pips on trade war tension and declining bond yield which has increased demand for safe haven assets like yen,gold and Swiss franc. Markets eye US non farm payroll for further direction. It is currently trading around 0.99365.
On the higher side, near term resistance is around 0.9958 (200- day MA) and any break above will take the pair to next level till 0.9980/1.000/1.0025
The near term support is at 0.9925 and any violation below will take the pair to next level till 0.9890/0.9860/0.98279/0.9780.
It is good to buy on dips around 0.9925-30 with SL around 0.9880 for the TP of 1.0000/1.0025.
