FxWirePro- USDCHF Daily Outlook
Ichimoku analysis (Daily chart)
USDCHF is one of the best performers in past one week and surged more than 250 pips. The jump was mainly due to a jump in US bond yield in hopes of rising inflation. The number of people who have filed for unemployment benefits rose to 745000 for the week ended Feb 27th compared to a forecast of 758K. Markets eye US Non-Farm payroll data for further direction. The overall trend is still bullish as long as support 0.9130 holds. DXY breaks significant resistance at 91.60, a jump till 92.80 likely. The pair hits an intraday high of 0.92053 and is currently trading around 0.92046.
The pair is trading slightly above 0.9300, this confirms minor bullishness. A jump till 0.9365/0.9400 likely. On the lower side, significant support stands at 0.92800, any indicative break below targets 0.9240/0.9200.
Indicator (Daily chart)
CAM indicator – bullish
Directional movement index – Bullish
It is good to buy on dips around 0.9250-525 with SL around 0.9200 for a TP of 0.9365.