FxWirePro- USDCHF Daily Outlook

Ichimoku analysis (4-Hour chart)

 Tenken-Sen- 0.91852

Kijun-Sen- 0.91954

USDCHF is trading flat after more than 300 pips for a minor bottom. The pair has halted its one-month bullish trend. US durable goods orders climbed by 2.3% in May compared to a forecast of 2.9%. The orders rose 12 times in the past 13 months due to a surge in demand for civilian aircraft. DXY continues to trade below 92 levels. Any breach below 91.40 confirms bearish continuation.  The number of people who have filed for unemployment benefits has decreased by 7000 to 411000 in the week ended Jun 19th. The US 10-year bond yield surged more than 10% from a minor low of 1.354%. The pair hits an intraday low of 0.91682 and is currently trading around 0.91672.

Short term outlook:

In the 4-hour chart, RSI has formed bearish divergence. So minor decline till 0.9120 not ruled out.

Trend- Bullish

The pair is holding below 4-hour Tenken-Sen, and above the cloud, Kijun-Sen. The near-term resistance is around 0.92370. Any indicative break above 0.92620 confirms that decline from 0.9470 got over at 0.89340. A jump till 0.9300/0.9360 is possible. On the lower side, near-term support is around 0.9150. Any convincing breach below targets 0.9120/0.9080. Significant selling will happen only if it breaks 0.8920.

Indicator (4-Hour chart)

CAM indicator – Neutral

Directional movement index –Neutral 

It is good to sell on rallies around 0.91825-50 with SL around 0.9237 for a TP of  0.9060.