Ichimoku analysis (Daily chart)
Tenken-Sen- 0.89866
Kijun-Sen- 0.88378
USDCHF is consolidating after hitting a high of 0.9000 level. The Swiss franc was one the best performer against the USD in the past nine months and lost more than a 14% increase in Safe-haven demand. The positive US economic data and surge in US bond yield is supporting the US dollar at lower levels. Markets eye US Nonfarm payroll data tomorrow for further direction.
The near term resistance at 0.9020; any convincing violation above will take to the next level till 0.9050/0.9080.
On the lower side, significant support stands at 0.8980, any indicative break below targets 0.8950/0.8920/0.8870.
Indicator (4-hour chart)
CAM indicator – Bullish
Directional movement index – Bullish
It is good to buy on dips around 0.8968-70 with SL around 0.8900 for a TP of 0.9050/0.9080.
