Ichimoku Analysis (4-Hour chart)
Tenken-Sen- 0.97188
Kijun-Sen- 0.97131
USDCHF is trading in a narrow range between 0.9760 and 0.96985 for the past 2 days. The overall trend is on the downside as long as resistance 0.98025 holds. It hits an intraday high of 0.97287 and is currently trading around 0.97228.
The near term minor resistance is at 0.9760, any break above targets 0.9785/0.9800. Significant trend reversal level in the near term will be 0.98027 (Apr 24th, 2020 high) and surge past that level will reach 0.9900.
On the flipside, near –term support is around 0.96650 and any indicative break below will drag the pair down till 0.9588.
It is good to sell on rallies around 0.9748-50 with SL around 0.9785 for the TP of 0.9590.
