FxWirePro- USDCHF Daily outlook
Intraday trend – Bearish
Significant intraday support – 0.9090
The pair declined sharply more than 100 pips on board-based US dollar weakness. The producer price rose by 0.20% from the previous month and annual inflation gained 9.7%. The US dollar index continues to trade weak for the fourth consecutive week. It hits an intraday low of 0.90920 and is currently trading around 0.90978.
The primary levels to Watch – 0.9150. Any convincing surge above confirms intraday bullishness. A jump to 0.9200/0.9230/0.92750 is possible.
Intraday support – 0.9090. Break below that level will take the pair to 0.9050/0.900.
Indicators (4-Hour chart)
Directional movement index – Bearish
CCI (50) - Bearish
It is good to sell on rallies around 0.9138-40 with SL around 0.9180 for TP of 0.9000.