USD/CHF: weekly Ichimoku analysis
Tatyana Norkina, FBS analyst
Daily. The currency pair formed a yearly high this week, recovering to 0.9330. Successful fix above the Tenkan and Kijun lines supported the US dollar buying. Indicator lines are now headed to the upside, strengthening the bullish sentiment. Next strong resistance is seen at 0.9370.
Chart. Daily USD/CHF
H4. The currency pair has also fixed above the Tenkan and Kijun lines on the H4 chart. Ichimoku is also bullish, but Chinkou Span shows the market is oversold. We concede a consolidation or even a decline to the Tenkan and Kijun lines.
Chart. H4 USD/CHF