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USDCHF trades well above 1.01250, jump till 1.0250 likely

 USDCHF is trading higher for 4th consecutive week and hits fresh 2019 high. The pair has broken major resistance 1.01285 high made on Nov 13th and jumped till 1.01594. The jump was mainly due to US-China trade optimism and strong Chinese data has increased risk appetite. The recent data released in US came better than expected especially retail sales and jobless data. It is currently trading around 1.01459.

On the higher side, the pair is facing resistance around 1.0170 and this confirms minor bullishness and a jump till 1.0200/1.02500. 

The near term support is around 1.00987 (23.6% fib) and any violation below will drag the pair till 1.0070/ 1.0050/1.000.

 It is good to buy on dips around 1.01250 with SL around 1.00700 for the TP of 1.0250.

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