FxWirePro: usdchf trades flat, weakness only below 0.9370
Source: FxWire Pro - Technicals / 05 Jul 2020 12:57:44 America/New_York
Ichimoku Analysis (4-hour chart)
USDCHF has shown a minor recovery after hitting a low of 0.94265. The U.S economy has added 4.8 million jobs in June compared to a forecast of 3.3 million and the unemployment rate declined to 11.1% to 12.4%. The intraday trend is neutral as long as resistance 0.95330 holds. It hits a high of 0.95330 and is currently trading around 0.94612.
In the 4 hours chart, the pair is holding well below 200- EMA at 0.95400. It is struggling to break above minor resistance 0.95530 high formed after bottom 0.9370. Any violation above 0.9560 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 0.9500 with SL around 0.9540 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.