FxWirePro: Sell USDCHF on rallies
Ichimoku Analysis (1- hour chart)
Tenken-Sen- 0.92888
Kijun-Sen- 0.922734
USDCHF is trading slightly below hourly Tenken-Sen and Kijun-Sen on slight weakness in the US dollar. DXY declined nearly 45 pips from a high of 94.74. the index is facing strong trend line resistance at 94.75 and breaks above targets 95/95.47. Markets eye US Non-Farm payroll data for further direction. The pair hits an intraday low of 0.929695 and is currently trading around 0.92710.
The pair is significant resistance around 0.9300 and jump till 0.9365/0.9435 likely. The near-term support is around 0.92600, any break below will drag the pair down till 0.9200/0.9180/0.9130/0.9050.
It is good to sell on rallies around 0.92825-850 with SL around 0.9350 for the TP of 0.91600.
