Ichimoku analysis (4 Hour chart)
Tenken-Sen- 0.91659
Kijun-Sen- 0.91573
June month high– 0.92750
The pair has shown a nice recovery of more than 80 pips on board-based US dollar buying. The US dollar index recovered sharply from a minor bottom of 91.92. Any breach above 92.50 confirms intraday bullishness. The surge in US treasury yields is also supporting the US dollar index. At the time of writing, USDCHF is hovering around 0.91938 up 0.01%.
Trend-Bullish
The near-term resistance is around 0.9210, any breach above targets 0.9240/0.9275. The minor bearish trend will get completed only after it breaks 0.9275. On the lower side, immediate support is around 0.91570. Any convincing breach below will take to the next level 0.91150/0.9995/0.90750/0.9050.
Indicator (4-Hour chart)
CAM indicator –Bullish
Directional movement index –Bullish
It is good to buy on dips around 0.9150-525 with SL around 0.9110 for TP of 0.9240.
