Ichimoku Analysis (Weekly Chart)
Tenken-Sen- 0.99335
Kijun-Sen- 0.98437
USDCHF has formed a double top near 1.0030 and is hovering around that level. The pair has formed a minor bottom around 0.98394 and shown a recovery of more than 150 pips. The jump was mainly due to easing US-China trade tension has decreased demand for safe-haven assets like yen, Swiss franc. The short-term trend is bullish as long as support 0.9835 holds.
On the flip side, major near-term support is around 0.99525 and any indicative break below will drag the pair down till 0.9900/0.9835.
The major trend continuation level is at 1.0030, any break above will take the pair till 1.050/1.0100/1.01750.
It is good to buy on dips around 0.9990 with SL around 0.9950 for the TP of 1.010.
