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FxWirePro: Buy USDCHF on dips

Ichimoku Analysis (4-Hour)

 Tenken-Sen- 0.96575

 Kijun-Sen- 0.9570

 USDCHF trading higher for 2 nd consecutive week and jumped more than 550 pips. The jump was mainly from the major bottom 0.9185. The recovery was due to a strong US dollar on account of the outbreak of coronavirus. DXY continues to trade higher and jumped more than 150 pips from yesterday's low of 97.98.

 On the higher side, near term resistance is around 0.9660 (55- day EMA) and any violation above will take the pair to next level till 0.9715/0.9750.

The immediate support is at 0.9560 and any indicative break below will drag the pair down till 0.9500/0.9470.

It is good to buy on dips around 0.9580 with SL around 0.9550 for the TP of 0.96595/0.9690.

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