Ichimoku analysis (4-hour chart)
Tenken-Sen- 0.92405
Kijun-Sen- 0.92639
USDCHF continues to trade weak for the past one week and lost more than 250 pips. The slight weakness in the US dollar index is putting pressure on this pair. Markets eye US Consumer price index data for further direction. The overall trend is bearish as long as resistance 0.9370 holds. The minor pullback in US 10-year bond yield after auction is preventing the pair from further sell-off. DXY is hovering around 92 levels. Significant weakness only if it breaks below 91.80. USDCHF hits an intraday low of 0.92127 and is currently trading around 0.92503.
The pair is facing significant resistance at 0.92890 (200-4H MA); any jump above this confirms intraday bullishness. A jump till 0.9300/0.9370/0.9435likely. Significant bullish continuation only if it breaks 0.94725. On the lower side, significant support stands at 0.9200, any indicative break below targets 0.9180/0.9100.
Ichimoku Analysis- The pair is trading below 4-hour Kijun-Sen, Tenken-Sen, and cloud. Minor weakness only if it breaks 0.9200.
Indicator (4-hour chart)
CAM indicator – Slightly bullish
Directional movement index – Bullish
It is good to sell on rallies around 0.9285-88 with SL around 0.9340 for a TP of 0.9150.
