Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.97718
Kijun-Sen- 0.97556
USDCHF is trading higher for 2nd consecutive days and jumped more than 80 pips. The intraday trend for the pair remains bullish as long as support 0.9710 holds. The pair formed a temporary top at 0.98025 and major trend continuation can happen only above that level.
Technically, pair is facing strong resistance at 0.98025, and any violation above targets 0.9845/0.99017 (Mar 22nd, 2020). Any violation beyond targets 1.000.
On the flip side, near term support is at 0.9712, and an indicative break beneath will drag the pair till 0.9660/0.9620.
It is good to buy on dips around 0.9755-58 with SL around 0.9712 for the TP of 0.9900.
