FxWirePro: USD/CHF Trade Idea

Ichimoku Analysis (4 hours chart)

Tenken - Sen - 0.9880

Kijun- Sen - 0.98300

USDCHF is continuing its bullish trend and jumped almost 90 pips yesterday on broad based US dollar buying. US dollar index also trading higher and hits high of 96.10 level. Any break above 97 will take the index to next level till 97.60/98. It hits high of 0.99254 yesterday. The jump mainly mainly due to slight easing geo political tensions especially NAFTA agreement. It is currently trading around 0.99145.

USDCHF has closed well above 100- day MA and confirms bullish continuation. The near term resistance is around 0.99450 and any break above will take the pair to next level till 1.0000/1.0045.

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 0.9865-70 with SL around 0.9825 for the TP of 0.9945/1.000.

R1- 0.9945
 

R2 - 1.000

R3- 1.0070

Support               

S1- 0.9860

S2- 0.9825

S3- 0.9780