Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.90785
Kijun-Sen- 0.90727
USDCHF has once again declined after showing a minor jump till 0.90940 on broad-based US dollar selling. Markets eye the US fed monetary policy today for further direction. The Fed is planning to hold rates unchanged and investors look for economic projections. The pair hits an intraday low of 0.90600 and is currently trading around 0.90598.
The pair is still in a downtrend, any break above 0.9120 (200- H MA) confirms intraday bullish continuation. Any violation above targets 0.91420/0.9200. The near-term support is around 0.9050, any break below will drag the pair down till 0.9000/0.8940. The decline from 0.9900 will get completed at 0.9050 only if it breaks 0.9250.
It is good to sell on rallies around 0.90680-70 with SL around 0.9120 for the TP of 0.8940.
