Ichimoku analysis (4-Hour chart)
Tenken-Sen- 0.88973
Kijun-Sen- 0.88901
USDCHF breaks significant resistance 0.89250 after two weeks of consolidation. The short term trend is bullish as long as support 0.8835 holds. The Covid stimulus uncertainty and vaccine rollout has increased demand for safe-haven assets like the US dollar. DXY's bullish continuation only above 91. Any surge past targets 91.50/92.
The near term resistance at 0.8950; any convincing violation above will take to the next level till 0.9000/0.9025.
On the lower side, significant support stands at 0.8870, any indicative break below targets 0.8820/0.8800/0.8750.
It is good to buy on dips around 0.8928-30 with SL around 0.8900 for a TP of 0.9000/0.9020.
