Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.90677
Kijun-Sen- 0.90677
USDCHF has once again declined after hitting a high of 0.91350 on weak US ADP data. US economy has added 428000 jobs in Aug compared to a forecast of 1250K. US dollar index has shown a minor correction from an intraday high of 92.87. Market eye US NFP data for further direction.
The pair is still in a downtrend, any break above 0.9197 (Aug 12th high) confirms bullish continuation. The minor near term resistance to be watched is 0.9162. The near-term support is around 0.9050, any break below targets 0.9000/0.8940. 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 0.9138-40 with SL around 0.9200 for the TP of 0.9020.
