FxWirePro

We prefer to go long in USD/CHF

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
2
Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9722
Kijun-Sen level: 0.9705
Ichimoku cloud top: 0.9648
Ichimoku cloud bottom: 0.9628

USD/CHF has recovered after making low of 0.9648. Overall trend is bullish as long as support 0.9600 holds.
The pair’s minor support is around 0.9648 ( trend line joining 0.95296 and 0.9614) and any break below will target 0.9600/0.9550 in short term. The pair has formed temporary top around 0.97949 and any break of 0.97949 would extend gain to 0.9886 (161.8% retracement of 0.97949 and 0.96482) and 0.9970.

Recommendation: Buy USD/CHF around 0.9680, SL 0.9600, Target 0.9970.