Ichimoku Analysis (4-Hourly chart)
Tenken-Sen- 0.97301
Kijun-Sen- 0.97070
USDCHF recovers slightly after showing a minor dip till 0.97114 yesterday. The demand for Safe-haven assets is decreasing as the US and China sign phase one trade deal by Jan 15th and de-escalation of tensions between the US and Iran. It is currently trading around 0.97397. Markets eye US Non-farm-payroll data for further direction.
Technically, the pair is trading slightly above 55-4H EMA and indicative break beyond will take the pair till 0.9775/0.9800. Major trend reversal only over 0.9845.
On the flipside, primary support is at 0.9720 and the indicative break beneath will drag the pair to 0.9680/0.9645.
It is good to buy on dips around 0.97300 with SL around 0.9700 for the TP of 0.9800.
