Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9565
Kijun-Sen level: 0.9609
Ichimoku cloud top: 0.9654
Ichimoku cloud bottom: 0.9660
USD/CHF is consolidating around 0.96535 and 0.9570 for the past one week .Overall trend is weak as long as 0.9660 holds.
The pair is expected to reach 0.9505/0.9440 (29th Oct low) in the short term. The 0.9635 is acting as short term resistance and any indicative break above would extend gain to 0.9690/0.9740.
The intraday resistance is around 0.9620 and break of will take the pair to 0.9660.
Recommendation: Sell USD/CHF around 0.9620, SL 0.9660, Target 0.9505/0.9440.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9565
Kijun-Sen level: 0.9609
Ichimoku cloud top: 0.9654
Ichimoku cloud bottom: 0.9660
USD/CHF is consolidating around 0.96535 and 0.9570 for the past one week .Overall trend is weak as long as 0.9660 holds.
The pair is expected to reach 0.9505/0.9440 (29th Oct low) in the short term. The 0.9635 is acting as short term resistance and any indicative break above would extend gain to 0.9690/0.9740.
The intraday resistance is around 0.9620 and break of will take the pair to 0.9660.
Recommendation: Sell USD/CHF around 0.9620, SL 0.9660, Target 0.9505/0.9440.