Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.90628
Kijun-Sen- 0.90525
USDCHF has once again taken support near 0.9030 and shown a minor jump of 40 pips. Markets eye US fiscal stimulus and US election for further developments. US Markit composite PMI index rose to 55.5, the highest level since Feb 2019. DXY has declined after showing a minor jump above 93, any violation below 92.65 targets 92. USD CHF hits an intraday high of 0.9070 and is currently trading around 0.90550.
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.
