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Ichimoku Analysis (1-hourly chart)
Tenken-Sen- 0.96995
Kijun-Sen- 0.96879
USDCHF has once again recovered after hitting a low of 0.96690. The pair was trading weak as demand for Safe-haven assets increased after the outbreak of Coronavirus. But the World Health Organization said that 'Too Early' to call the situation a global public health emergency. It hits an intraday high of 0.97055 and is currently trading around 0.97052.
Technically, the pair is facing strong resistance at 0.97650-70 and any indicative break above targets 0.9800/0.9845.
On the flip side, near-term support is at 0.9660 and the break below will drag the pair to the next level till 0.96130/0.9545.
It is good to buy on dips around 0.9695-98 with SL around 0.9660 for the tp OF 0.97750.
