FxWirePro: USDCHF Daily Outlook

Ichimoku analysis (320- min chart)

Tenken-Sen- 0.99731

Kijun-Sen- 0.99383

USDCHF is consolidating after hitting a high of 0.99854 yesterday. The pair bias is on the higher side for the past 1-week on easing US-China trade tension. The trade deal optimism has decreased demand for Safe-haven assets like yen, gold, etc. DXY also holding well past 98 levels and any violation above 98.45 confirms bullish continuation. The pair hits a high of 0.99861 at the time of writing and is currently trading around 0.99736.

On the higher side, near-term resistance is around 1.0030, any violation beyond will take the pair to the next level till 1.0050/1.0100. Major bullishness only over 1.0100.

The major intraday support is at 0.9926, an indicative break beneath will drag the pair down till 0.9900/0.9840.

It is good to buy on dips around 0.99625-650 with SL around 0.9925 for the TP of 1.0050.