USD/CHF: trading on Ichimoku
Tatiana Norkina, FBS analyst
The pair extended its corrective decline as the 0.8910 support failed to hold yesterday. The pair depreciated all day long, finding support at 0.8860. We expect some consolidatin before a test of the 0.8850 level.
Ichimoku. Bullish rebound could extend towards the 0.8885/0.8890 levels. Resistance is formed by a horizontal Kijun line and by the lower border of the Cloud. There is also a chance to recover to the upper border of the Cloud (0.8910), though it's rather small in the current bearish market conditions.
Technical levels: support – 0.8850; resistance – 0.8890, 0.8910.
Sell — 0.8880/0.8890; SL — 0.8910; TP1 — 0.8850.