FxWirePro: Buy USDCHF on dips (high-risk call)

Ichimoku Analysis (Hourly chart)

Tenken-Sen- 0.96848

Kijun-Sen- 0.96761

USDCHF trades lower for past 1-month and lost more than 350 pips on broad-based US dollar selling. DXY has lost more than 100 pips from minor top 97.82 level and is hovering around 96.65.

The near-term resistance is around 0.97367 (23.6% fib), any break above will take the pair to next level till 0.9745/0.9775 (200- H MA). Any close above 0.9775 targets 0.9845/0.9880.

On the flipside, primary support is at 0.9650 and the indicative break below will drag the pair to 0.9623 (23.6% fib)/0.9543.

It is good to buy on dips around 0.9695-98 with SL around 0.9660 for the TP of 0.97750.