Major trend reversal level: 1.0030
Ichimoku Analysis (4- Hour chart)
Tenken-Sen- 0.99411
Kijun-Sen- 0.99305
USDCHF trades more depressed for 3rd consecutive day and dropped more than 50 pips on broad-based US dollar selling. The overall bias is still weak as long resistance 1.0030 holds. Any significant move can be seen only after the Fed monetary policy.
On the lower side, major support is around 0.99170 (cloud top), any breach beneath will drag the pair to the next level till 0.9880/0.9840/0.9800.
Major trend reversal can occur only over 1.0030 and any violation targets 1.0060/1.010.
It is good to sell on rallies around 0.9955-58 with SL around 1.0030 for the TP of 0.9840.
