Ichimoku Analysis (Daily chart)
Tenken-Sen- 0.90940
Kijun-Sen- 0.90940
USDCHF has once again declined after a minor till 0.91920 levels on broad-based US dollar selling. The increase in new coronavirus cases in US and European countries is supporting the US dollar at lower levels. DXY is facing strong resistance at 21 day MA; any violation above 93.20 confirms bullish continuation. US bond yield lost more than 10% in two days after surging more than 35%. USD CHF hits an intraday high of 0.91268 and is currently trading around 0.91346.
On the lower side, the pair is facing significant support at 0.9100 and any break below will drag down till 0.9050/0.9000. The near –term resistance is around 0.9200, an indicative break above targets 0.9245/0.9300.Significant buying only above 0.93000.
It is good to buy on dips around 0.9120 with SL around 0.9095 for the TP of 0.9245.
