Ichimoku Analysis (1-Hour chart)
Tenken-Sen- 0.97036
Kijun-Sen- 0.97097
USDCHF is trading weak after a minor jump till 0.97287 and declined more than 50 pips. The pair trades in a narrow range of 0.9760 and 0.96985 for the past 2 days. The overall trend is on the downside as long as resistance 0.98025 holds.
The near term minor resistance is at 0.9730, any break above targets 0.9760/0.9785. Minor trend continuation can happen only above 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 0.9705-08 with SL around 0.9760 for the TP of 0.9590.
