FxWirePro- USDCHF Daily Outlook

Ichimoku analysis (1-hour chart)

 Tenken-Sen- 0.91601

Kijun-Sen- 0.91524

USDCHF has formed a double bottom near 0.9120 levels and shown a nice jump. The intraday trend is strong as long as support 0.9120 holds. The pair is trading slightly above 200-H MA, any hourly close confirms bullish trend continuation. The slight recovery in US bond yield is also supporting this pair at lower levels. The US 10-year yield surged more than 6.5% from a minor bottom 1.53%. DXY is consolidating in a narrow range between 90.82 and 91.07 for the past two days. 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- Bullish

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 0.91850; 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 0.9185.

Indicator (Hourly chart)

CAM indicator – Bullish

Directional movement index – Bullish

It is good to buy on dips around 0.9150 with SL around 0.9120 for a TP of 0.9240.