has shown a good jump of 80 pips yesterday after hitting low of 0.994475 (yesterday’s low). US CPI
came at better then expected. US headline CPI
came slightly lower than expected at 0.1% compared to forecast of 0.2%. But inflation
Y-O-Y came at 2.9% highest since 2012. The rise in inflation
confirms more than two rate hikes by fed in this year. The policy divergence between US fed and SNB also supporting the USDCHF
price.The pair hits high of 1.00343 at the time of writing. The pair has formed a temporary top around 1.0060 and any convincing break above will confirm further bullishness.. The safe haven assets like yen , Swiss franc
lost appeal amid escalating trade war between US and major economies especially with China .It is currently trading around 1.00301 .
On the higher side, 1.0060 high made on May 10th 2018 will be acting as near major resistance and any break above will take the pair to next level till 1.010/1.0180.
The near term major support stands at 0.9975 (23.6% fib) and any break below targets 0.9930/0.988 (55- day EMA
It is good to buy on dips around 1.0010 with SL around 0.9970 for the TP of 1.0100/1.018.