Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.91713
Kijun-Sen- 0.91760
USDCHF continues to trade lower after forming a temporary top around 0.9295. The hopes of the new US stimulus package has increased global market sentiment. The US 10-year bond yield is trading higher for the past one week and jumped more than 25% from a low of 0.64%, a jump till 0.950% likely. DXY is struggling to break below 93 levels, any violation below targets 91.75. USDCHF hits a high of 0.91974 at the time of writing and is currently trading around 0.91114.
The pair is significant resistance around 0.9140 (200-4H MA), 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 0.9090, violation below will drag the pair to 0.9050/0.9000.
It is good to sell on rallies around 0.9128-30 with SL around 0.9180 for the TP of 0.9000.
