Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.96906
Kijun-Sen- 0.97130
USDCHF has halted its 4 days of weakness and jumped more than 50 pips on profit booking. The pair lost more than 200 pips on the strong Swiss franc. The demand for Safe-haven assets increased a lot in the outbreak of coronavirus. It hits an intraday low of 0.96102 and is currently trading around 0.96558.
The immediate support is at 0.9600, violation below targets 0.9540/0.9500. On the higher side, nearby resistance is around 0.9670 and indicative break above will take the pair to 0.9725/0.9770.
It is good to buy on dips around 0.9650-525 with SL around 0.9610 for the TP of 0.9740.
