USD/CHF: weekly Ichimoku (June 6)
Tatyana Norkina, FBS analyst
Daily. The pair started a corrective decline after a consolidation in the 0.8980/0.8990 area. Chinkou Span line was in an overbought zone after the may rebound, so the pair needed to correct to the downside. Rate decline to the daily Kijun-sen will be no surprise. At the same time, the daily indicator remains positive.
Chart. Daily USD/CHF
H4. The pair held above the Ichimoku during the week but the bears have finally won the battle, pulling the pair into the Cloud. There is a strong support in the 0.8920 area that may limit the quick corrective move. Break below the current levels could open the way to 0.8850 (lower border of the Cloud).
Chart. H4 USD/CHF