Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.97727
Kijun-Sen- 0.97641
USDCHF recovered sharply after a minor dip till 0.97608 today. The pair is trading higher for 6-week and jumped more than 150 pips. DXY hits 4-month high on broad-based US dollar buying and surge in bond yield. Markets eye US CPI m/m for further direction. It hits an intraday low of 0.97608 and is currently trading around 0.97822.
Technically, the pair is facing strong resistance at 0.9800 and a jump till 0.9845/0.9870 likely. On the flip side, near-term support is at 0.9760 and the break beneath will drag the pair to the next level till 0.9720/0.9670/0.96130/0.9545.
It is good to buy on dips around 0.9765-68 with SL around 0.9725 for the TP of 0.984
