Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.90953
Kijun-Sen- 0.90836
USDCHF continues to trade higher and jumped more than 70 pips from a low of 0.90365. The jump was mainly due to broad-based US dollar buying. The US dollar index is holding well above 200-H MA, a jump till 93.60/94 likely. The increase in the number of new coronavirus cases and lockdown in Europe is supporting the US dollar at lower levels. Markets eye US fiscal stimulus and US election for further developments. USD CHF hits an intraday high of 0.91186 and is currently trading around 0.91120.
On the lower side, the pair is facing strong support at 0.9090 and any break below will drag the pair down till 0.9060/0.9030. The near –term resistance is around 0.912, an indicative break above targets 0.91480/0.91650.Significant buying only above 0.91650.
It is good to buy on dips around 0.9100 with SL around 0.9070 for the TP of 0.91650.
