FxWirePro: USDCHF trades above 0.9800 level, jump till 0.9870 likely

Ichimoku Analysis (1-hour chart)

Tenken-Sen- 0.98075

Kijun-Sen- 0.97856

USDCHF is trading higher for 10 consecutive days and jumped more than 150 pips on broad-based US dollar buying. DXY hits 4-month high and holding above 99 levels. US CPI up ticked by 0.1% m/m compared to a forecast of 0.2% and consumer inflation excluding the volatile food and energy components rose by 0.2% after jumping 0.1% in Dec.

Technically, the pair is holding above strong resistance at 0.9800 and a jump till 0.9845/0.9870 likely. On the flip side, near-term support is at 0.97537 (200-H MA) and the break beneath will drag the pair to the next level till 0.9720/0.9670/0.96130/0.9545.

 It is good to buy on dips around 0.9788-90 with SL around 0.9750 for the TP of 0.9875.