FxWirePro- USDCHF Daily Outlook

Ichimoku analysis (Daily chart)

 Tenken-Sen- 0.90825

Kijun-Sen- 0.90825

USDCHF is consolidating after hitting a high of 0.92388. The board-based US dollar strength after hawkish Fed. US dollar index is trading above 92 levels. Any breach above 92.50 confirms a bullish continuation. The slight pullback of more than 10% in the US 10-year bond yield is supporting the US dollar. The pair hits an intraday high of 0.92094 and is currently trading around 0.91999.

Short term outlook:

Trend- Bullish

The pair is holding above daily Kijun-Sen, Tenken-Sen, and the cloud. The near-term resistance is around 0.92500. Any indicative break above will take the pair to next level to 0.9300/0.9340. On the lower side, near-term support is around 0.9180. Any convincing breach below targets 0.9120/0.9080. Significant selling will happen only if it breaks 0.8920.

Indicator (Daily chart)

CAM indicator – Bullish

Directional movement index –Bullish 

It is good to buy on dips around 0.9180 with SL around 0.9120 for TP of  0.9300.