FxWirePro- USDCHF Daily Outlook

Major Intraday resistance -0.93350

Intraday support- 0.9245

 The pair has formed a double bottom around 0.92150 and shown a minor jump of more than 80 pips on board-based US dollar buying. The short-term trend is bullish as long as support 0.9210 holds. The upbeat market sentiment in global markets has decreased demand for Safe-haven assets like the Swiss franc.  The US dollar index is trading above the significant trend line resistance 93.45. Any breach above 93.75 confirms further bullishness. At the time of writing, USDCHF is hovering around 0.92819 up 0.27%.

Woodies and CCI analysis-

Both CCI (50) and Woodies CCI is trading above the zero lines (bullish trend).

In Woodies CCI six consecutive bars close above zero lines. (bullish trend).

Trend-Bullish

USDCHF is trading above 0.92750 and this confirms intraday bullishness. A jump to 0.9330/0.9365 is possible.  On the lower side, immediate support is around 0.92480. Any convincing breach below targets 0.92150/0.9180.

 Indicator (1-hour chart)

 Directional movement index –Neutral

It is good to buy on dips around 0.92680-70 with SL around 0.9245 for a TP of 0.93350/0.9360.