FxWirePro: sell usdchf on rallies
Source: FxWire Pro - Technicals / 29 Jun 2020 06:26:23 America/New_York
Ichimoku Analysis (Weekly chart)
USDCHF continues to trade lower after a minor jump till 0.95270 the previous week. Short term trend is weak as long as resistance 0.95500 holds. It hits an intraday high of 0.94812 and is currently trading around 0.94601. The increase in demand for Safe-haven assets due to fear of the second wave of the corona is supporting Swiss franc.
In the weekly chart, the pair is holding well below Tenken-Sen and Kijun-Sen. It confirms minor weakness, a dip till 0.9420/0.9370. Significant weakness only below 0.9370
The pair is facing primary resistance at 0.9650, a firm break above will confirm minor bullish continuation. A jump till 0.97363/0.9800.
On the higher side, significant resistance is at 0.95550, and the break below will take the pair to the next level till 0.9600/0.9640.
It is good to sell on rallies around 0.9478-80 with SL around 0.9520 for the TP of 0.9370.© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.