Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.65532
Kijun-Sen- 0.65134
AUDCHF has halted its 1-1/2 month bearishness and shown a minor recovery. The pair lost more than 350 pips from a high of 0.68204 and is currently trading around 0.65718. The global mood got lifted as China is making efforts to find drugs for coronavirus, announced that it will cut tariffs on $75 billion imported US goods from Feb 14th. It hits high of 0.65907 and is currently trading around 0.65716.
On the higher side, near-term resistance is around 0.6610 (38.2% fib) and any indicative break above targets 0.66380 (200- 4H EMA)/0.66679 (200-4H MA).
The near-term support is at 0.6550, the break below will drag the pair down till 0.6520/0.6500/0.645.
It is good to buy on dips around 0.6550 with SL around 0.6520 for the TP of 0.6638.
