Ichimoku Analysis (1- hour chart)
Tenken-Sen- 0.92003
Kijun-Sen- 0.92035
USDCHF is trading well below 100 and 200 H MA on slight strength in the Swiss franc. The rise in coronavirus cases across the globe has increased demand for safe-haven assets like the Swiss franc. DXY is holding well below 94 levels, any violation below 93.60 confirms further bearishness. Markets eye US jobless claims and ISM manufacturing index data for further direction. The pair hits an intraday low of 0.91782 and is currently trading around 0.91788.
The pair is significant resistance around 0.9250, any indicative break above targets 0.9300/ 0.9365/0.9435. The near-term support is around 0.91600, any break below will drag the pair down till 0.91270/0.9050.
It is good to sell on rallies around 0.9188-90 with SL around 0.9245 for the TP of 0.9050.
