FxWirePro: Buy USDCHF on dips

Ichimoku Analysis (4-hour chart)

Tenken-Sen- 0.91411 

Kijun-Sen- 0.91380

USDCHF continues to trade higher on account of the strong US dollar. The slight pessimism of fresh US stimulus and second wave of coronavirus across major European countries is supporting the US dollar at lower levels. DXY gains sharply till 93.76 and is currently trading around 93.69. Any break above 93.78 (Oct 8th high) confirms bullish continuation. A jump till 94/94.50 likely. USDCHF hits an intraday high of 0.91556 and is currently trading around 0.91455. Markets eye US Philly fed manufacturing index and initial jobless claims for further direction.

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 0.9125 with SL around 0.9100 for the TP of 0.92480.