• FxWirePro: usdchf daily outlook

    Source: FxWire Pro - Technicals / 30 Jun 2020 11:15:14   America/New_York

    Ichimoku Analysis (4-hour chart)


    Tenken-Sen- 0.94873


    Kijun-Sen- 0.94831


    USDCHF is trading in a narrow channel between 0.95530 and 0.9422. The intraday trend is neutral as long as resistance 0.95550 holds. It hits a high of 0.95330 and is currently trading around 0.94929. The increase in the number of coronavirus cases is supporting Swiss franc at higher levels.


    Near term:

    In the 4 hours chart, the pair is holding well below 200- MA at 0.95800. It is struggling to break above minor resistance 0.95530 high formed after bottom 0.9370. Any violation above 0.9580 will take the pair to next level till 0.9645/0.9700.

    The pair is facing primary support at 0.9370, a firm break below will confirm minor bearish continuation. A dip till 0.9300/0.9260. 



    On the higher side, significant resistance is at 0.95330, and the jump above will take the pair to the next level till 0.9580/0.9645. Minor support stands at 0.9420.


    It is good to sell on rallies around 0.9518-20 with SL around 0.9580 for the TP of 0.9370.


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