Ichimoku Analysis (1-Hour chart)
Tenken-Sen- 0.97387
Kijun-Sen- 0.97104
USDCHF declined sharply after a minor jump till 0.97554 at the time of writing. The overall trend is on the downside as long as resistance 0.9900 holds. The number of people who filed for unemployment benefits rose to 3 million last week compared to a forecast of 2.5 million cases.
The near term major resistance is at 0.98027 (Apr 24th, 2020 high). Any violation above targets 0.9845/0.9900.
On the flipside, near –term support is around 0.96570 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.
