Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.91713
Kijun-Sen- 0.91760
USDCHF recovered more than 60 pips from a low of 0.90880 on a strong US dollar. The US dollar index gained sharply as hopes of fresh US stimulus fades. DXY regained above 93.50 levels, any violation above 94 confirms trend continuation. The US 10-year bond yield declined nearly 10% from its high after a major drug maker has paused its clinical trial of the COVID vaccine. USDCHF hits a high of 0.91547 and is currently trading around 0.91416.
The pair is significant resistance around 0.9160, any hourly close above will take to the next level till 0.9185/0.9250/0.9300. Significant buying only above 0.9300. The near-term support is around 0.9085, any violation below will drag the pair to 0.9050/0.9000.
It is good to buy on dips around 0.9148-50 with SL around 0.9100 for the TP of 0.92480.
