FxWirePro: USDCHF Daily Outlook

Ichimoku Analysis (4-hour chart)

Tenken-Sen- 0.94873

Kijun-Sen- 0.94831

USDCHF is trading in a narrow channel between 0.95530 and 0.9422. The intraday trend is neutral as long as resistance 0.95550 holds. It hits a high of 0.95330 and is currently trading around 0.94929. The increase in the number of coronavirus cases is supporting Swiss franc at higher levels.

Near term:

In the 4 hours chart, the pair is holding well below 200- MA at 0.95800. It is struggling to break above minor resistance 0.95530 high formed after bottom 0.9370. Any violation above 0.9580 will take the pair to next level till 0.9645/0.9700.

The pair is facing primary support at 0.9370, a firm break below will confirm minor bearish continuation. A dip till 0.9300/0.9260. 

Intraday

On the higher side, significant resistance is at 0.95330, and the jump above will take the pair to the next level till 0.9580/0.9645. Minor support stands at 0.9420.

It is good to sell on rallies around 0.9518-20 with SL around 0.9580 for the TP of 0.9370.