Ichimoku Analysis (Weekly chart)
Tenken-Sen- 0.93543
Kijun-Sen- 0.94790
USDCHF declined sharply after forming a minor top around 0.92419. The pair breaks low made previous week 0.90563 and hovering around that level.The broad-based US dollar selling due to weak US economic data and declining yield. US private companies have added 167000 much worst compared to a forecast of 1200K. It hits an intraday low 0.90503 and is currently trading around 0.90525.
The pair is trading weak, any violation below 0.9050 confirms further weakness, a dip till 0.9000/0.8700. The near-term resistance is around 0.9100 and any break above targets 0.9180/0.9250 likely.
It is good to sell on rallies around 0.90625-650 with SL around 0.9105 for the TP of 0.8780.
