Harmonic pattern- Bullish Gartley pattern
Potential reversal zone (PRZ)- 0.9370
Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.94592
Kijun-Sen- 0.94528
USDCHF has formed Bullish Gartley pattern and this confirms minor bullishness. Any significant weakness can be seen only below 0.9370. The demand for the US dollar increased after the news that the US to impose tariffs up to $3.1 billion on EU and UK products. DXY jumped more than 50 pips and primary bullishness only above 97.75.
In the hourly chart, the pair is facing strong resistance at 0.9491 (200- MA). Any indicative break beyond targets 0.95530/0.9620.
On the lower side, strong support is at 0.9370, and the break below will take the pair to the next level till 0.9300.
It is good to buy on dips around 0.9435-38 with SL around 0.9370 for the TP of 0.9553.
