Ichimoku analysis (Hourly chart)
Tenken-Sen- 0.88234
Kijun-Sen- 0.88250
USDCHF continues to trade weak for the second consecutive week. The pair has broken significant support 0.8800 after a minor jump till 0.88562. It confirms the resumption of the downtrend, a dip till 0.8768 (76.8% Fin retracement) is possible. Markets eye US Final manufacturing and construction PMI for further direction. The intraday trend is bearish as long as resistance 0.8865 holds.
The pair's near term resistance at 0.8860; any break above will take to the next level till 0.88750/0.8920.
It is good to sell on rallies around 0.8848-50 with SL around 0.8890 for TP of 0.8768.
