Ichimoku analysis (Daily chart)
Tenken-Sen- 0.88850
Kijun-Sen- 0.88418
USDCHF's intraday trend is neutral as long as resistance 0.89250 holds. Any violation above 0.8925 confirms short term bottoming at 0.8756. The surge in coronavirus cases and weak US economic data has increased demand for safe-haven assets like the yen, Swiss franc. Markets eye US existing home sales and flash manufacturing PMI.
The near term resistance at 0.8925; any convincing violation above will take to the next level till 0.89398 (55- day EMA)/0.8965/0.9000.
On the lower side, significant support stands at 0.8820, any indicative break below targets 0.8800/0.8750.
It is good to buy above 0.8920 with SL around 0.8870 for a TP of 0.9000.
