FxWirePro: USD/CHF Trade Idea

Ichimoku analysis (Daily chart)

Tenken-Sen - 1.0040

Kijun-Sen - 0.9988

USD/CHF is trading higher after minor correction. The pair declined till 1.00580 more than  70 pips from the high. It hits high of 1.01283 yesterday and is currently trading around 1.00990.The policy divergence and broad-based US dollar buying is supporting USD. Intraday trend is positive as long as support 1.00520 holds. The pair holds above 1.0100 level and this confirms minor bullishness.

The near term major support is around 1.00520 (10-day MA) and any break below targets 1.000/0.9950. The minor support is around 1.00850 (23.6% fib) .

The pair jump above 1.0130 confirms bullish continuation and a jump till 1.0170/1.0340 is possible.

It is good to buy on dips around 1.0080 with SL around 1.00430 for the TP of 1.017/1.0340.

Resistance

R1- 1.0130

R2 - 1.01700

R3- 1.0340

Support               

S1- 1.00520

S2- 1.000

S3- 0.9950