FxWirePro: USDCHF Daily Outlook

Ichimoku Analysis (1-hour chart)

Tenken-Sen- 0.91790

Kijun-Sen- 0.91778

USDCHF continues to trade higher and holding well above significant resistance 0.9165 on a strong US dollar. Markets expected to trade volatile till the US elections get over. The pair hits a three -week high due to board- based US dollar buying.  The better than expected US economic data and rising coronavirus cases are supporting the dollar index at lower levels.  DXY is holding well above 94 levels, any violation above 94.20 confirms bullish continuation. A jump till 94.60/95 likely. USD CHF hits an intraday high of 0.91716 and is currently trading around 0.911664.

On the lower side, the pair is facing significant support at 0.91450 and any break below will drag down till 0.9100/0.9060/0.9030. The near–term resistance is around 0.9200, an indicative break above targets 0.92450/0.9290.Significant buying only above 0.93000.

It is good to buy on dips around 0.9140 with SL around 0.9100 for the TP of 0.92450.