Ichimoku Analysis (8-hour chart)
Tenken-Sen- 0.96983
Kijun-Sen- 0.96710
USDCHF has once again declined after showing a minor jump till 0.97192. The pair was trading weak as demand for Safe-haven assets increased on the outbreak of Coronavirus. The number of cases infected has increased to 2744 and death toll to 80. It hits an intraday high of 0.96926 and is currently trading around 0.96945.
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 sell on rallies around 0.9700-05 with SL around 0.9730 for the TP of 0.9600.
