USDCHF: Buy USDCHF above 1.0010 | February 5, 2019

Major resistance- 1.0010

USDCHF is trading higher for 3rd consecutive day and jumped nearly 90 pips from the low. DY is rebounding after better than expected US Non farm payroll data. But US and China trade talks and Brexit uncertainty are major factors which are expected to increase demand for sage haven. The pair hits high of 0.99943 and is currently trading around 0.99950.

On the higher side, major horizontal resistance is around 1.0010 and any break above confirms minor bullishness and a jump till 1.0068/1.0130 likely.

The near term support is around 0.9950 and any break below will take the pair til 0.9900 (200- day MA).Any daily close below 0.9900 confirms major weakness.

It is good to buy above 1.0010 with SL around 0.9950 for the TP of 1.0130.