Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9674
Kijun-Sen level: 0.9722
Ichimoku cloud top: 0.9713
Ichimoku cloud bottom: 0.9694
USD/CHF has broken major support 0.9645 and it indicates it has formed temporary top around 0.9818 and further selling till 0.9550 cannot be ruled out.
The break of 0.9645 will target 0.9590/0.9550 in short term. The minor resistance is around 0.9725 (Dec 9th high) and any short term trend reversal only above that level.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell USD/CHF around 0.9655-60, SL 0.9725, Target 0.9590/0.9560.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9674
Kijun-Sen level: 0.9722
Ichimoku cloud top: 0.9713
Ichimoku cloud bottom: 0.9694
USD/CHF has broken major support 0.9645 and it indicates it has formed temporary top around 0.9818 and further selling till 0.9550 cannot be ruled out.
The break of 0.9645 will target 0.9590/0.9550 in short term. The minor resistance is around 0.9725 (Dec 9th high) and any short term trend reversal only above that level.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell USD/CHF around 0.9655-60, SL 0.9725, Target 0.9590/0.9560.