Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.90703
Kijun-Sen- 0.90991
USDCHF has broken significant support 0.9050 on broad-based US dollar selling. The optimism on the US stimulus package has increased demand for riskier assets like stocks. DXY has traded well below 93 levels, a dip till 91.95/91.50 possible. USD CHF hits an intraday low of 0.90305 and is currently trading around
On the lower side, the pair is facing strong support at 0.9030 and any break below will drag the pair down till 0.900/0.8940. The near –term resistance is around 0.9070, an indicative break above targets 0.9100/0.91480/0.91650.Significant buying only above 0.9300.
It is good to sell on rallies around 0.9048-50 with SL around 0.9100 for the TP of 0.8940.
