Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.92098
Kijun-Sen- 0.90882
USDCHF recovered more than 100 pips from a low of 0.89802 on short covering. The US dollar index jumped more than 70 pips due to an increase in Coronavirus cases in the U.S. The number of coronavirus in the world surged to 50 million and death crossed to 1.2 million. USD CHF hits an intraday high of 0.91369 and is currently trading around 0.91307.
On the lower side, the pair is facing significant support at 0.9098 and any break below will drag down till 0.9050/0.9000. The near –term resistance is around 0.91650, an indicative break above targets 0.9210/0.9245.Significant buying only above 0.93000.
It is good to buy on dips around 0.9098-9100 with SL around 0.9050 for the TP of 0.9245.
