FxWirePro: USDCHF Daily Outlook

FxWirePro: USDCHF Daily Outlook 

Ichimoku analysis (Hourly chart)

Tenken-Sen- 0.88390

Kijun-Sen- 0.88390

USDCHF is consolidating in a narrow range between 0.89201 and 0.8855 for the past week. The increase in coronavirus cases and surging yield is supporting the US dollar at lower levels. On the data front, US retail sales and Jobless claims came below expectations. The US 10-year yield was one of the best performers in the past 1-1/2 months and surged more than 45%. 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 convincing violation above will take to the next level till 0.8948 (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 on dips around 0.8900 with SL around 0.8860 for a TP of 0.9000.