Ichimoku Analysis (Hourly chart)
Tenken-Sen- 0.98489
Kijun-Sen- 0.98489
USDCHF continues to trade weak for the past 2-week on broad-based dollar selling. The ongoing trade uncertainty has increased demand for Safe-haven assets like yen, Swiss franc. The pair has formed a short top around 1.00233 and shown a slump of more than 150 pips. It is currently trading around 0.98510.
Markets eye US CPI, Fed monetary policy decision today for further direction.
Technically, near-term critical support is around 0.9830 and any break beneath will drag the pair to the next level till 0.9770/0.9700.
On the higher side, major resistance is at 0.99250 and the violation beyond will take the pair till 0.99525/0.9980. Significant trend reversal only up 1.0030.
It is good to buy on dips around 0.9830-325 with SL around 0.9800 for the TP of 0.9925.
