Ichimoku Analysis (Weekly chart)
Tenken-Sen- 0.95850
Kijun-Sen- 0.96729
USDCHF is trading weak for the past 4-weeks and lost more than 650 pips from the temporary top at 0.9845. The pair hits a low of 0.91823 and is currently trading around 0.93693.
The surge in Swiss franc against all majors due to the spread of coronavirus in major countries. Technically near term important resistance is around 0.9400, any violation beyond targets 0.9460/0.9500.
On the flip side, immediate support is at 0.93200 and indicative break beneath will drag the pair down till 0.9280/0.9245/0.9180. Significant bearish continuation only under 0.9180.
It is good to buy above 0.9400 with SL around 0.9350 for the TP of 0.9500.
