FxWirePro: USDCHF Daily Outlook
Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.90778
Kijun-Sen- 0.90720
USDCHF continues to trade higher after hitting a low of 0.90615 on broad-based US dollar buying. The Swiss Franc is trading weak against all majors after SNB comments on forex intervention. The SNB Chairman Jordan Said yesterday that the overvalued Franc will pose risk to the Swiss financial industry. The dollar index recovered back above 93 levels. Any violation above 93.13 confirms trend continuation. Markets eye US fiscal stimulus and US election for further developments. USD CHF hits an intraday high of 0.90963 and is currently trading around 0.90909.
On the lower side, it is facing strong support at 0.9060 and any break below will drag the pair down till 0.9030/0.9000. 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 0.9090 with SL around 0.9060 for the TP of 0.91650.
