Ichimoku analysis (4-hour chart)
Tenken-Sen- 0.91316
Kijun-Sen- 0.91316
USDCHF has broken significant support 0.9120 and hits a multi-week low on broad-based US dollar selling. . The central bank has kept its rates unchanged and left its $120bn bond-buying programs. They have said that vaccine rollout has strengthened economic activity and employment. The intraday trend is bearish as long as resistance 0.9155 holds. The slight recovery in US bond yield from yesterday's low of 1.608%. DXY is trading below 90.60, a dip till 90.20/90 likely. The long-term trend is still on the downside as long as resistance 0.94725 holds.
Intraday day outlook:
Trend- Bearish
On the lower side, any break below 0.9090 confirms bearish continuation, a dip till 0.9050/0.90290 is possible. The pair is facing significant resistance at 0.9155; any jump above will take the pair to 0.9185/0.9240/0.92600/0.9300 likely. Significant bullish continuation only if it breaks 0.93700.
Ichimoku Analysis- The pair is trading well below4-Hour Kijun-Sen, Tenken-Sen, and cloud. Major bullishness only if it breaks 0.9185.
Indicator (4-Hour chart)
CAM indicator – Bearish
Directional movement index – Bearish
It is good to sell on rallies around 0.91225-50 with SL around 0.9185 for a TP of 0.9000.
