USD/CHF: Ichimoku analysis
By Tatyana Norkina, FBS analyst
Resistance at 0.8960 managed to hold during yesterday’s trading. As a result, the currency pair slid to the negative area, below the Ichimoku Cloud at H1.
Ichimoku indicator. Here we may see that resistance is now formed by the lower border of the Cloud and the Kijun-sen line just above 0.8950. Obviously, it will be hard for the bulls to overcome this level. If there’s a breakthrough, this will be the signal for buying towards figure 0.9000.
On H4 the situation is too bearish: Ichimoku Cloud is descending, and the prices are gradually falling under the support of Tenkan and Kijun.
Therefore, the main recommendation for today is to be on the side of the sellers.
Technical levels: support - 0.8910 0.8930; resistance - 0.8950, 0.8960, 0.9000.
1. Sell - 0.8950; SL - 0.8970; TP1 - 0.8930; TP2 - 0.8910.
2. Buy - 0.8965; SL - 0.8945; TP1 - 0.9000; TP2 - 0.9030.