Ichimoku analysis ( daily chart)
Tenken-Sen - 0.98448
Kijun-Sen- 0.98542
USDCHF has halted its 3- day of bullishness and lost more than 40 pips. The pair formed a temporary bottom around 0.96938 and jumped more than 250 pips on easing global geopolitical tension and progress in the US-China trade war. Markets eye US Fed meeting minutes today for further direction. Any hint of more rate cut will drag the pair further down. It hits intraday low of 0.99089 and is currently trading around 0.99154.
On the flip side, near term support is around 0.9870 (20-- day MA) and any break below will drag the pair till 0.98448/0.9800.
The near term resistance is around 0.9950 (55- day EMA) and any indicative break above will take the pair till 0.99820 (200-- day MA)/1.000.
It is good to sell on rallies around 0.9935-38 with SL around 0.9980 for the TP of 0.9800.
