Ichimoku Analysis (8-hour chart)
Tenken-Sen- 0.90800
Kijun-Sen- 0.90857
USDCHF continues to trade lower for 2nd consecutive days and lost more than 100 pips on broad-based USD selling. The dovish Fed chairman's speech and minor jump in US jobless claims are putting pressure on the US dollar. Market eye US personal spending and PCE data for further direction.
The pair is still in a downtrend, any break above 0.9197 (Aug 12th high) confirms bullish continuation. The minor near term resistance to be watched is 0.9050/0.9100/0.9135. The near-term support is around 0.9000, any break below targets 0.8940/0.8900. 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.
