Ichimoku Analysis (Hourly chart)
Tenken-Sen- 0.96936
Kijun-Sen- 0.97031
USDCHF has declined sharply after a minor jump till 0.97676 on broad-based US dollar selling. Overall market sentiment got boosted by lockdown exits and corona treatment optimism. DXY continues to trade below 100 levels and any break below 98.80 confirms bearish continuation.
On the flip side, the pair is holding well below 200-H MA, dip till 0.9590 likely. The near term resistance is around 0.9720, any indicative break below targets 0.9770/0.9805/0.9845. Significant trend reversal only if it breaks 0.9900.
It is good to sell on rallies around 0.9725-28 with SL around 0.97650 for the TP of 0.9620.
