Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.91114
Kijun-Sen- 0.90857
USDCHF has halted its minor bullish trend and lost 100 pips from minor top 0.91616. The decline came after weaker than expected US jobless claims data. The number of people who have filed for unemployment benefits has crossed 1 million compare to forecast of 925000. The Initial claims for previous have revised to 971000 from 963000. The Philly Fed manufacturing index came at 17.2 vs estimate of 21.
The pair has shown a minor recovery from 0.90611. The break above 0.9197 (Aug 12th high) confirms bullish continuation. A jump till 0.9240/0.93625 is possible. The near-term support is around 0.9050, any break below targets 0.9020/0.8940. 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 0.9138-40 with SL around 0.9200 for the TP of 0.9020.
