Ichimoku analysis (Daily chart)
Tenken-Sen - 1.0040
Kijun-Sen - 0.9988
USD/CHF is trading higher after minor correction. The pair declined till 1.00580 more than 70 pips from the high. It hits high of 1.01283 yesterday and is currently trading around 1.00990.The policy divergence and broad-based US dollar buying is supporting USD. Intraday trend is positive as long as support 1.00520 holds. The pair holds above 1.0100 level and this confirms minor bullishness.
The near term major support is around 1.00520 (10-day MA) and any break below targets 1.000/0.9950. The minor support is around 1.00850 (23.6% fib) .
The pair jump above 1.0130 confirms bullish continuation and a jump till 1.0170/1.0340 is possible.
It is good to buy on dips around 1.0080 with SL around 1.00430 for the TP of 1.017/1.0340.
Resistance
R1- 1.0130
R2 - 1.01700
R3- 1.0340
Support
S1- 1.00520
S2- 1.000
S3- 0.9950
