Ichimoku Analysis (Daily chart)
Tenken - Sen - 0.9699
Kijun- Sen - 0.9699
USDCHF is continuing its bullish trend after jumping more than 250 pips in previous week.The pair has jumped more than 50 pips in this week. It hits high of 0.98556 yesterday. The jump mainly mainly due to broad based buying in USD and easing geo political tensions. It is currently trading around 0.98384.
USDCHF has closed well above 200- day MA for third consecutive day and this confirms bullish continuation The near term resistance is around 0.9860 (100- day MA) and any break above will take the pair to next level till 0.9900/0.9945.
On the lower side, near term major support is around 0.9780 (55- day EMA and any break below will drag the pair to next level till 0.9730 (200- day MA)/0.9676/0. 9630 (61.8% fib).
It is good to buy on dips around 0.9780 with SL around 0.9730 for the TP of 0.9900/0.9945.
