Ichimoku Analysis (4 -hour)
Tenken-Sen- 0.97004
Kijun-Sen- 0.9626
USDCHF trades higher and jumped more than 250 pips from low of 0.9500 levels. The jump was mainly due to broad-based US dollar buying.DXY recovered sharply after a minor dip till 98.27. It hits a high of 100.64 and is currently trading around 100.54.
Technically, immediate support is at 0.9725 and any indicative break targets 0.9660/0.9635/0.9590. On the higher side, immediate resistance is around 0.9800 and the violation above will take the pair till 0.9845. Major trend reversal only if it breaks 0.9845.
It is good to buy on dips around 0.9758-60 with SL around 0.9720 for the TP of 0.9840.
