Ichimoku Analysis (Hourly chart)
Tenken-Sen- 0.97160
Kijun-Sen- 0.97126
USDCHF recovered sharply after 1-month decline of more than 350 pips on broad-based US dollar selling. DXY jumped more than 60 pips in two days from low of 96.42 and is hovering around 97.06.
The near-term resistance is around 0.97650 (200- H MA), any break above will take the pair to next level till 0.9800/0.9845. Any close above 0.9845 targets 0.9900/0.9925.
On the flipside, primary support is at 0.9650 and the indicative break below will drag the pair to 0.9623 (23.6% fib)/0.9543.
It is good to buy on dips around 0.9715-18 with SL around 0.9680 for the TP of 0.9800.
