• FxWirePro: usdchf trades in narrow range, any violation above 0.9920 targets 0.99780

    Source: FxWire Pro - Technicals / 19 Nov 2019 06:06:24   America/New_York

    Ichimoku Analysis (Hourly chart)

     

    Tenken-Sen- 0.9899

     

    Kijun-Sen- 0.98911

     

    USDCHF has broken minor resistance at 0.99140 after a long consolidation. It hits an intraday high of 0.99181 and is currently trading around 0.99174. The slight pessimism in US-China trade talks is putting pressure on this pair at higher levels.

     

     

    The near -term major intraday resistance is around 0.9920, any violation above will take the pair to next level till 0.99525/0.9978. Major trend reversal only beyond 1.0030.

     

    On the flip side, 0.9890 (Cloud bottom) will be acting as minor support and any indicative break below targets 0.9870/0.9840. Minor bearish continuation only beneath 0.9840.

     

    It is good to buy on dips around 0.9908-10 with SL around 0.9885 for the TP of 0.9978.

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