Ichimoku Analysis (4-Hours chart)
Tenken-Sen- 0.95962
Kijun-Sen- 0.95962
USDCHF continues to trade lower after a minor jump till 0.96504. The pair has formed a temporary bottom around 0.95437. The overall trend is still bearish as long as resistance 0.96894 (200-4H MA) holds. The slight improvement in US jobs data and bullish bond yield is supporting the pair at lower levels. It is currently trading around 0.95655.
In the 4-hour chart, the pair is holding well below 100 and 200 MA (0.96636/0.96894). The near term support is around 0.9600, the violation below will take the pair till 0.9570/0.9540. Significant selling can be seen below 0.9540
On the higher side, strong resistance is at 0.96895, and the break above will take the pair to the next level till 0.9740/0.9765/0.9785.Significant trend reversal only above 0.98027.
It is good to sell on rallies around 0.96180-20 with SL around 0.9685 for the TP of
