Ichimoku analysis (1-Hour chart)
Tenken-Sen- 0.91406
Kijun-Sen- 0.91224
USDCHF has once again declined after a jump above 0.9150 levels. The minor sell-off in the US dollar is putting pressure on this pair at higher levels. The intraday trend of USDCHF is still lower as long as resistance 0.9180 intact. The number of private-sector jobs rose to 742000 in Apr compared to a forecast of 872K. The US ISM services PMI came at 62.7% in Apr slightly below the estimate of 64.2. The US dollar index jumped is trading weak after hitting a high of 91.42. Any violation above 91.50 confirms minor bullishness. The long-term trend is still on the downside as long as resistance 0.94725 holds.
Intraday day outlook:
Trend- Bearish
On the higher side, any close above 0.91500 will pave the way for the pair to reach 0.9220/0.9260/0.9300. The pair is facing significant support at 0.9080; any breach below will take the pair to 0.9050/0.9020. Minor trend continuation only if it closes above 0.92050.
Ichimoku Analysis- The pair is trading slightly below 4- hour Kijun-Sen and cloud. Major bearishness only if it breaks 0.9080.
Indicator (4-hour chart)
CAM indicator – Slightly Bullish
Directional movement index – Bearish
It is good to sell on rallies around 0.9128-30 with SL around 0.9180 for TP of 0.9000.
