Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.91243
Kijun-Sen- 0.90811
USDCHF has halted its five days of bullishness despite strong US jobs data. The US economy has added 1371K jobs in Aug compared to an estimate of 1375K and the unemployment rate beats the street estimate at 8.4% vs 9.8%. The average hourly earnings rose 0.4% MoM and 4.7% over the last twelve months. US dollar index has shown a minor correction from a high of 93.24.
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 0.9162. The near-term support is around 0.9090, any break below targets 0.9050/0.8940. The decline from 0.9900 will get completed at 0.9050 only if it breaks 0.9250.
It is good to buy on dips around 0.9125-80 with SL around 0.9075 for the TP of 0.9245.
