Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.97397
Kijun-Sen- 0.97397
USDCHF has recovered from an intraday low of 0.97125 on broad-based US dollar buying. The pair formed a temporary top at 0.98025 and started to decline from that level. US dollar index bounced back above 100 after a minor decline to 99.83.
Technically, pair is facing strong resistance at 0.9845 and significant trend reversal can happen if it breaks 0.99017 (Mar 22nd, 2020). Any violation beyond targets 1.000.
On the flip side, near term support is at 0.9690, and an indicative break beneath will drag the pair till 0.9660/0.9620.
It is good to sell on rallies around 0.9778-80 with SL around 0.9845 for the TP of 0.9660.
