• 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)


    Tenken-Sen- 0.94766


    Kijun-Sen- 0.95476


    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.


    Short term:

    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.


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