Ichimoku Analysis (1-Hour)
Tenken-Sen- 0.95930
Kijun-Sen- 0.95638
USDCHF trades higher for past 1-week and jumped more than 400 pips from major bottom 0.9185. The recovery was due to a strong US dollar on account of the outbreak of coronavirus. DXY continues to trade higher and jumped more than 150 pips from yesterday's low of 97.98.
On the higher side, near term resistance is around 0.9660 (55- day EMA) and any violation above will take the pair to next level till 0.9715/0.9750.
The immediate support is at 0.9560 and any indicative break below will drag the pair down till 0.9500/0.9470.
It is good to buy on dips around 0.9580 with SL around 0.9550 for the TP of 0.96595/0.9690.
