Ichimoku Analysis (Daily chart)
Tenken-Sen- 0.91209
Kijun-Sen- 0.91377
USDCHF continues to trade lower for the third consecutive days and lost more than 100 pips on broad-based US dollar selling. Joe Biden is leading against Donald Trump in the electoral college -253-214. Markets predict Biden to be elected as new President of the United States. The Fed monetary policy and jobless claims are significant data to be watched for further direction. DXY has declined more than 100 pips from a minor top 94.30. It is holding slightly below 93 levels, a dip till 92.65/92.50 likely. USD CHF hits an intraday high of 0.90700 and is currently trading around 0.90742.
On the lower side, the pair is facing significant support at 0.9050 and any break below will drag down till 0.9030/0.9000. The near –term resistance is around 0.91650, an indicative break above targets 0.9210/0.9245.Significant buying only above 0.93000.
It is good to sell on rallies around 0.9098-9100 with SL around 0.9160 for the TP of 0.9000
