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FxWirePro: USDCHF Daily Outlook

Ichimoku Analysis (Hourly chart)

 

Tenken-Sen- 0.99449

 

Kijun-Sen- 0.99363

 

USDCHF is trading slightly higher for the past 3 trading days after forming a minor bottom around 0.98683. The jump was mainly due to renewed hopes of the US-China trade deal which has decreased demand for Safe-haven assets like yen, Swiss franc. It hits an intraday high of 0.99684 and is currently trading around 0.99412.

 

The near -term major resistance is around 0.9980, any violation beyond will take the pair to next level till 0.9978. Major trend reversal only beyond 1.0030.

 

On the flip side, 0.9890 will be acting as minor support and any indicative break under targets 0.9870/0.9840. Minor bearish continuation only beneath 0.9840.

 

It is good to buy on dips around 0.99500 with SL around 0.99180 for the TP of 1.0030

 

By Rangarajan Hariharan
  • Market Data
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