Ichimoku analysis (4-hour chart)
Tenken-Sen- 0.91765
Kijun-Sen- 0.91183
June month high– 0.92750
The pair is trading higher for third consecutive days and jumped more than 200 pips on board-based US dollar buying. The U dollar index is hovering around 93 levels, any breach above 93.20 confirms further bullishness. The US10-year yield recovered more than 18.5% from a multi-month low of 1.1270%. At the time of writing, USDCHF is hovering around 0.92117 up 0.21%.
Trend- Bullish
The near-term support is around 0.9160, any breach below targets 0.91150/0.90770/0.0.9050. A violation below 0.8925 confirms that a minor top formed around 0.92750. A dip to 0.8742 is likely. On the higher side, immediate resistance is around 0.92325. Any convincing breach above will take to the next level 0.92750/0.93000.
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Indicator (4 Hour chart)
CAM indicator –Bullish
Directional movement index –Bullish
It is good to buy on dips around 0.9180 with SL around 0.9130 for TP of 0.92750.
