FxWirePro: usdchf breaks symmetrical triangle support, dip till 0.9535 likely
المصدر: FxWire Pro - Technicals / 29 مايو 2020 07:04:21 Europe/London
Ichimoku Analysis (4-hour chart)
USDCHF has broken symmetrical triangle support at 0.9650 after a long consolidation. This confirms bearish continuation, a dip till 0.9585/0.9535 likely. The demand for Safe-haven increased slightly as markets US Trump's speech about US ties with China today. DXY is trading at 2-month low and any violation below 98.25 confirms further weakness.
The major economic data to be released today are US PCE, Personal spending, U.S Powell, and Trump speech for further direction.
The near term minor resistance is at 0.96650, any break above targets 0.9700/0.9720/0.9760. Minor bearish reversal can happen only above 0.98027 (Apr 24th, 2020 high) and surge past that level will reach 0.9900.
The pair is trading below 0.9638 shows that corrective pattern will extend till 0.95886 (May 1st low). Any indicative close beneath will drag the pair down till 0.9535/0.9500.
It is good to sell on rallies around 0.9640-425 with SL around 0.9670 for the TP of 0.9585/0.9535.© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.