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