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FxWirePro: USDCHF Trade Idea

Intraday trend : Bullish

 

Ichimoku Analysis (hourly Chart)

 

Tenken-sen- 0.9764

 

Kijun-Sen- 0.9776

 

Trend reversal level (intra day)- 0.9776

 

USDCHF is showing a minor recovery after hitting low of 0.9745.The pair is trading weak for past 10 trading session and declined more than 250 pips from the high. It has taken support near 200 day MA and shown a minor jump.

 

The near term major intraday resistance is around 0.9776 and any violation above targets 0.9800/0.9857 (200- day MA).

 

On the lower side, near term support is around 0.9750 any convincing break below targets 0.9700/0.9660.

 

It is good to buy above 0.97760 with SL around 0.9745 for the TP of 0.9857.

 

Resistance

R1- 0.97760
 

R2 - 0.9800
 

R3- 0.9850


Support               

 

S1- 0.9745


S2- 0.9700

 

S3- 0.9660

 

 

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