Ichimoku analysis (Hourly chart)
Tenken-Sen- 0.88865
Kijun-Sen- 0.88751
USDCHF formed an ascending triangle pattern. Any significant up move can be seen only above 0.8920. US dollar index gained strength after Biden hints at tax hike. Markets eye US retail sales data for further direction. The intraday trend is neutral as long as resistance 0.8920 holds. The number of people who have filed for unemployment benefits rose to 965 K compared to an estimate of 785K. The US dollar index is holding well above 90 levels, any violation above 91.50 confirms bullish continuation.
The pair's near term resistance at 0.8920; any break above will take to the next level till 0.89545 (55- day EMA)/0.9000. On the lower side, significant support stands at 0.8845, any indicative break below targets 0.88220/0.8800/0.8750.
It is good to buy above 0.8920 with SL around 0.8800 for a TP of 0.9000.
