Ichimoku Analysis (Monthly chart)
Tenken-Sen- 0.99483
Kijun-Sen- 0.97123
USDCHF has formed a temporary bottom around 0.96598 in the month of Aug and shown a nice recovery of more than 370 pips. The easing of the US-China trade war and geopolitical uncertainty has decreased demand for Safe-haven assets like yen, Swiss franc. The short-term trend is bullish as long as support 0.9835 holds.
On the flip side, major near-term support is around 0.99525 and any indicative break below will drag the pair down till 0.9900/0.9835.
The major trend continuation level is at 1.0030, any break above will take the pair till 1.050/1.0100/1.01750.
It is good to buy on dips around 0.9990 with SL around 0.9950 for the TP of 1.010.
