FxWirePro- USDCHF Daily Outlook

Ichimoku analysis (1-hour chart)

 Tenken-Sen- 0.91517

Kijun-Sen- 0.9144

USDCHF is trading weak after a minor pullback till 0.91680 despite US dollar recovery. It hits an intraday high of 0.91680 and is currently trading around 0.91528. The intraday trend is bearish as long as 0.91750 (200-H EMA) holds. It has formed a temporary bottom around 0.91217, any bearish continuation only if it breaks that level. DXY is struggling to break above 91 levels; any jump above 91.25 confirms minor bullishness.  The long-term trend is still on the downside as long as resistance 0.94725 holds.

Intraday day outlook:

Trend- Bearish

The intraday bias of the pair is slightly weak and a minor dip to 0.91217 is possible. On the lower side, any break below 0.9120 confirms bearish continuation, a dip till 0.9090/0.9050/0.90290 is possible. The pair is facing significant resistance at 0.91750; any jump above will take the pair to 0.9240/0.92600/0.9300 likely. Significant bullish continuation only if it breaks 0.93700.

Ichimoku Analysis- The pair is trading slightly above hourly Kijun-Sen, Tenken-Sen, and cloud. Major bullishness only if it breaks 0.9180.

Indicator (Hourly chart)

CAM indicator – Bullish

Directional movement index – Bullish

It is good to sell on rallies around 0.91740-50 with SL around 0.9225 for a TP of 0.9050.