Ichimoku analysis (Daily chart)
Tenken-Sen- 0.8905
Kijun-Sen- 0.88652
USDCHF is holding well above significant resistance 0.89250 after a long consolidation. The pair was one of the worst performers in the past 11 months and lost more than 10% on a surge in safe-haven demand like the Swiss franc. It has formed a temporary bottom around 0.87536 and jumped more than 150 pips on broad-based US dollar buying. DXY's is holding well above 91, a jump till 92 likely.
The near term resistance at 0.89981; any convincing violation above will take to the next level till 0.9020/0.9050.
On the lower side, significant support stands at 0.8890, any indicative break below targets 0.88385/0.8800/0.8750.
It is good to buy on dips around 0.8928-30 with SL around 0.8900 for a TP of 0.9000/0.9020.
