Ichimoku analysis (Hourly chart)
Tenken-Sen- 0.90797
Kijun-Sen- 0.90619
USDCHF has recovered sharply after upbeat US inflation data. . The US CPI rose by 0.8% in Apr much better than the forecast of 0.2%. The annual inflation surged to 4.2% in Apr from 2.6% in Mar, the highest level in 13 years. The US 10-year yield surged more than 6% from yesterday's bottom 1.609%. DXY is facing strong resistance at 90.80(200-H MA), any violation above will take the index to next level till 91.40. Markets eye US jobless claims data for further direction. The intraday trend of USDCHF is slightly bullish as long as support 0.90350 intact. The long-term trend is still on the downside as long as resistance 0.94725 holds.
Intraday day outlook:
Trend- Bullish
The pair is holding above 100-H MA, Tenken-Sen and Kijun-Sen. The pair should break above 0.9075 for further bullishness. Any jump above 0.90750 will take the pair to next level to 0.9090/0.9120/0.9165. On the lower side, near-term support is around 0.8980. Any dip below that level targets 0.8870/0.8830/0.8750.
Indicator (Hourly chart)
CAM indicator – Neutral
Directional movement index – Neutral
It is good to sell on rallies around 0.9048-50 with SL around 0.9090 for a TP of 0.0.8850.
