Ichimoku analysis (Hourly chart)
Tenken-Sen- 0.8865
Kijun-Sen- 0.88693
USDCHF is consolidating after forming a minor bottom around 0.8850. The intraday trend is neutral as long as resistance 0.88950 holds. US regulator FDA has said that the Moderna vaccine doesn't have any safety concerns and it might give a green signal for the vaccine. The decrease in demand for safe-haven assets on upbeat global market sentiment is putting pressure on the US dollar index.
The pair is facing strong intraday resistance at 0.8890 and any break above will take to the next level till 0.8945/0.8988. Minor bullishness only above 0.9000.
On the lower side, the near term support is around 0.8850, and a dip till 0.8800 is possible.
It is good to buy on dips around 0.8850 with SL around 0.8800 for TP of 0.8945.
