Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.96950
Kijun-Sen- 0.96950
USDCHF has once again recovered after showing a minor dip 0.96789. The pair was trading weak as demand for Safe-haven assets increased on the outbreak of Coronavirus. The total number died has increased to 106 and the number of infected cases jumped to 4515 from 2800 a day earlier. It hits an intraday high of 0.97217 and is currently trading around 0.97182.
Technically, the pair is still on the downside as long as resistance at 0.97650-70 holds. Any indicative break above targets 0.9800/0.9845.
On the flip side, near-term support is at 0.9660 and the break beneath will drag the pair to the next level till 0.96130/0.9545.
It is good to sell on rallies around 0.9728-30 with SL around 0.9765 for the TP of 0.9600.
