Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.91432
Kijun-Sen- 0.91432
USDCHF continues to trade lower after minor recovery till 0.90675. The broad-based US dollar selling due to delay in the US fiscal stimulus package. The demand for safe-haven assets like Swiss franc and Yen has increased in the US and China trade war. US dollar index is holding well below 93 levels and is currently trading around 92.60.
The pair is trading well below 100 and 200 -4H MA, any convincing break below confirms bearish continuation, a dip till 0.9000/0.8945 is possible. The near-term resistance is around 0.9070 and any break above targets 0.91150/0.9130. 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 0.9058-60 with SL around 0.9100 for the TP of 0.9000.
