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FxWirePro: USD/CHF Daily Chart

Ichimoku Analysis (4 hours chart)

 

Tenken - Sen - 0.9917

 

Kijun- Sen - 0.9875

 

USDCHF is continuing its bullish trend and jumped nearly 150 pips this week on broad based US dollar buying. US dollar index has shown a minor decline after hitting high of 96.12 level. Any break above 97 will take the index to next level till 97.60/98. It hits high of 0.99494 at the time of writing. The jump mainly mainly due to slight easing geo political tensions especially new NAFTA agreement. It is currently trading around 0.99369. Markets eye US non farm payroll.

USDCHF has closed well above 100- day MA and confirms bullish continuation. The near term resistance is around 0.99500 and any break above will take the pair to next level till 1.0000/1.00680.The pair should break above 1.00680 for further bullishness.

 

On the lower side, near term major support is around 0.9900 and any break below will drag the pair to next level till 0.9860/0.9830/0.9780.

It is good to buy on dips around 0.9900 with SL around 0.9860 for the TP of 1.000/1.00680.

 

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