USD/CHF: tension increases
Tatiana Norkina, FBS analyst
Yesterday, the currency pair was trading at the lower border of the four-hour Ichimoku cloud. Senkou Span B is still firmly holding the positions of the bulls that are striving not to let the bears into the negative area. But the active state of the dead cross formed by the Tenkan and Kijun lines may make the bulls abandon their plans for uptrend resumption. Indeed, we see that even the cloud might change the character to bearish today, if the prices shift below the Ichimoku Cloud in the near future.
Oscillators are also silenced in anticipation.
Retaining of the 0.9570 level is obvious to inspire the bulls to buying, while consolidation below this level will make the bears active, whose goal will be the 0.9480 figure.
Technical level: support – 0.9480, 0.9570; resistance – 0.9620, 0.9670.
1. Buy — 0.9570; SL — 0.9550; TP1 — 0.9620; TP2 — 0.9670.
2. Sell — 0.9560; SL — 0.9580; TP1 — 0.9480.