Ichimoku analysis (4-Hour chart)
Tenken-Sen- 0.90179
Kijun-Sen- 0.90003
USDCHF upside is capped by 200- 4H MA and shown a minor sell-off. The weaker than expected US Nonfarm payroll is putting pressure on this pair. US economy has added 559000 jobs in May much less forecast of 645K. The unemployment rate declined to 5.8% from the previous month to 6.1%. The US dollar index lost more than 50 pips from a high of 90.62. 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 below 4- Hourly Tenken-Sen, Kijun-Sen, and cloud. The near-term support is around 0.8980. Any indicative break below will take the pair to next level to 0.8960/0.8920. On the higher side, near-term resistance is around 0.9054. Any convincing breach above targets 0.9075/0.9095/0.9150.
Indicator (4-Hour chart)
RSI – Bullish
Directional movement index – Neutral
It is good to buy on dips around 0.9000 with SL around 0.8960 for a TP of 0.9100.
