Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.91475
Kijun-Sen- 0.91314
USDCHF continues to trade higher and jumped more than 50 pips after Powell's optimistic speech. The economic data released came positive with Richmond manufacturing index at 21 vs estimate of 12. US's existing-home sales hit a 14-year high. The spread of the second wave of coronavirus is supporting safe-haven demand assets like the dollar. The pair hits an intraday high of 0.92078 and is currently trading around 0.92005.
The pair is trading higher and any violation above 0.9245 confirms bullish continuation. A jump till 0.9300/0.9365 likely. The near-term support is around 0.9150, any break below will drag the pair down till 0.9100/0.9050. 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 0.9168-70 with SL around 0.9130 for the TP of 0.9300.
