Ichimoku analysis (1-hour chart)
Tenken-Sen- 0.92606
Kijun-Sen- 0.92661
USDCHF is trading within the channel for the past two weeks. The pair recovered once again after hitting a low of 0.92227 yesterday. The overall trend is still neutral as long as resistance 0.9375 holds. US dollar index jumped more than 30 pips from the day's low of 91.70. The index should cross 92.16 (Mar 19th high) for further jump till 92.50. The US 10-year bond yield continues to decline for second consecutive days from a multi-year high of 1.744%. USDCHF hits an intraday high of 0.92881 and is currently trading around 0.92872.
The pair is facing significant resistance at 0.93250; a jump past this level confirms intraday bullishness. A jump till 0.9375 (Mar 9th, 2021)/0.94235. On the lower side, significant support stands at 0.92688 (200-H EMA), any indicative break below targets 0.9220/0.9200/0.9150/0.9100.
Ichimoku Analysis- The pair is trading slightly above Kijun-Sen, Tenken-Sen, and cloud. But it should close above 0.9325 for minor bullishness.
Indicator (4-hour chart)
CAM indicator – Neutral
Directional movement index – Neutral
It is good to buy on dips around 0.9265-68 with SL around 0.9220 for a TP of 0.9370.
