Ichimoku analysis (Hourly chart)
Tenken-Sen- 0.88366
Kijun-Sen- 0.88400
USDCHF continues to trade lower and broken significant support at 0.8822. It confirms the resumption of the downtrend, a dip till 0.8768 (76.8% Fin retracement) is possible. US Pending home sales declined -2.6% last month compared to forecast of0.1%. Chicago PMI came at 59.5 in Dec better than the estimate of 56.60. Short term trend is bearish as long as resistance 0.8920 holds.
The pair's near term resistance at 0.8860; any break above will take to the next level till 0.88750/0.8920.
It is good to sell on rallies around 0.8848-50 with SL around 0.8890 for TP of 0.8.
