Short Term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9680
Kijun-Sen level: 0.9654
Ichimoku cloud top: 0.9667
Ichimoku cloud bottom: 0.9671
USD/CHF is facing strong support at 0.9590 (38.2% retracement of 0.9440 and 0.9740) and short term trend reversal only below that level.
The pair’s minor support is around 0.9660. On the downside any break below will target 0.96150/0.9590.
Minor resistance is around 0.9690. Any indicative break above would extend gain to 0.9740/0.9829 0.9829 (100% projection of 0.9440 to 0.9690 from 0.95789).
Recommendation: Buy USD/CHF around 0.9660, SL 0.9590, Target 0.9829.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9680
Kijun-Sen level: 0.9654
Ichimoku cloud top: 0.9667
Ichimoku cloud bottom: 0.9671
USD/CHF is facing strong support at 0.9590 (38.2% retracement of 0.9440 and 0.9740) and short term trend reversal only below that level.
The pair’s minor support is around 0.9660. On the downside any break below will target 0.96150/0.9590.
Minor resistance is around 0.9690. Any indicative break above would extend gain to 0.9740/0.9829 0.9829 (100% projection of 0.9440 to 0.9690 from 0.95789).
Recommendation: Buy USD/CHF around 0.9660, SL 0.9590, Target 0.9829.