FxWirePro: USDCHF holds above 200-H MA, jump till 0.9775 likely

Ichimoku Analysis (Hourly chart)

Tenken-Sen- 0.97389

Kijun-Sen- 0.97193

USDCHF trading higher after forming a low of 0.96650 yesterday and hits high 0.94650. The slight jump was mainly due to easing geopolitical risk has decreased demand for Safe-haven assets like yen, Swiss Franc. It is currently trading around 0.97397.

Technically, the pair is trading slightly above 200-H MA and indicative break beyond will take the pair till 0.9775/0.9800. Major trend reversal only over 0.9845.

On the flipside, primary support is at 0.9650 and the indicative break beneath will drag the pair to 0.9623 (23.6% fib)/0.9543.

It is good to buy on dips around 0.9725-28 with SL around 0.9680 for the TP of 0.9800.