Short term trend: Bullish
Ichimoku analysis (4 Hours chart):
Tenkan-Sen level: 0.9629
Kijun-Sen level: 0.9645
Ichimoku cloud top: 0.9579
Ichimoku cloud bottom: 0.9615
USD/CHF has made a temporary high around 0.9740 and is struggling to break the high. Any indicative break above would extend gain to 0.9818/0.9883 (161.8% retracement of 0.96833 to 0.93595).
The pair’s minor support is around 0.9650 and break below will target 0.9605/0.9550. Short term trend reversal only below 0.9550.
Weekly major support-0.9550, major resistance -0.9740.
Recommendation: Buy USD/CHF around 0.9610, SL 0.9550, Target 0.9883.
Ichimoku analysis (4 Hours chart):
Tenkan-Sen level: 0.9629
Kijun-Sen level: 0.9645
Ichimoku cloud top: 0.9579
Ichimoku cloud bottom: 0.9615
USD/CHF has made a temporary high around 0.9740 and is struggling to break the high. Any indicative break above would extend gain to 0.9818/0.9883 (161.8% retracement of 0.96833 to 0.93595).
The pair’s minor support is around 0.9650 and break below will target 0.9605/0.9550. Short term trend reversal only below 0.9550.
Weekly major support-0.9550, major resistance -0.9740.
Recommendation: Buy USD/CHF around 0.9610, SL 0.9550, Target 0.9883.