Ichimoku Analysis (Daily chart)
Tenken-Sen- 0.91038
Kijun-Sen- 0.92388
USDCHF recovered more than 100 pips on broad-based US dollar buying. The Fed said that the uncertainty of the economic recovery due to COVID-19 remains "extremely elevated." US Fed members "agreed that the ongoing public crisis would weigh heavily on economic activity, employment, and inflation in the near term. US dollar index surged 100 pips after the Fed minutes meeting.
The pair is trading above Tenken-Sen, any convincing break above 0.9197 (Aug 12th high) confirms bullish continuation. A jump till 0.9240/0.93625 is possible. The near-term support is around 0.9100, any break below targets 0.9050/0.9020. The decline from 0.9900 will get completed at 0.9050 only if it breaks 0.9250.
It is good to sell on rallies around 0.9158-60 with SL around 0.9200 for the TP of 0.9020.
