Ichimoku analysis (1 Hour chart)
Tenken-Sen- 0.92174
Kijun-Sen- 0.92159
June month high– 0.92750
The pair is holding above 0.9200 levels for the past 20 hours on a jump in US treasury yields. It is still range bound and buyers are waiting for USDCHF to cross this week high. The US dollar index has formed a Doji in the 4-hour chart, bullish continuation only if it breaks 92.88. At the time of writing, USDCHF is hovering around 0.92201 up 0.14%.
Trend-Bullish
The near-term resistance is around 0.9240, any breach above targets 0.9275. The minor bearish trend from 0.94725 will get completed at 0.8940 only after it breaks 0.9275. On the lower side, immediate support is around 0.91500. Any convincing breach below will take to the next level 0.91150/0.9995/0.90750/0.9050.
Indicator (Hourly chart)
CAM indicator –Bearish
Directional movement index –neutral
It is good to buy on dips around 0.9160 with SL around 0.9110 for TP of 0.92750.
