Major resistance- 0.98025
Ichimoku Analysis (8 Hour chart)
Tenken-Sen- 0.97327
Kijun-Sen- 0.96865
As per our analysis, USDCHF continues to trade lower after a minor jump till 0.97367. The weak US jobs data has increased hopes of further stimulus from the Fed. US dollar index has once again recovered sharply and holding above 100 levels. Any break above 100.40 confirms bullish continuation.
On the flip side, near-term support stands at 0.96780 (200-8 H MA) and any violation below will drag the pair down till 0.9650/0.9600.
The immediate resistance is at 0.97455 (61.8% fib), the indicative break above targets 0.9785/0.98025. Minor trend continuation can happen only if the pair breaks 0.98025.
It is good to sell on rallies around 0.9758-60 with SL around 0.98025 for the TP of 0.96785.
