Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.9472
Kijun-Sen- 0.94810
USDCHF has recovered sharply after hitting a low of 0.93762. The fear of the second wave of the corona has increased demand for Safe-haven like the dollar is supporting this pair. The short term trend is bullish as long as support 0.9470 holds. It is currently trading around 0.95343.
In the 4- hour chart, the pair is facing strong resistance at 0.95350 (55-4H EMA), any indicative break above will take the pair to next level till 0.9580/0.96250/0.96530 (200-4H MA) It has broken major support at 0.9500, a dip till 0.9435/0.9400.
On the lower side, strong support is at 0.9470, and the break below will take the pair to the next level till 0.9435/0.9370.Significant trend reversal only below 0.9370.
It is good to buy on dips around 0.95180-20- with SL around 0.9470 for the TP of 0.96
