Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.90596
Kijun-Sen- 0.90550
USDCHF is trading in a narrow range between 0.90922 and 0.90343 for the past two days. The overall trend is neutral as long as resistance 0.9165 holds. The minor recovery in this pair was mainly due to broad-based US dollar buying. The US dollar index has once again surged past 93 levels. Any jump above 93.10 confirms trend continuation. Markets eye US fiscal stimulus and US election for further developments. USD CHF hits an intraday high of 0.90794 and is currently trading around 0.90777.
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 0.910, an indicative break above targets 0.91480/0.91650.Significant buying only above 0.91650.
It is good to buy on dips around 0.90625-650 with SL around 0.9030 for the TP of 0.91650.
