Intraday trend – Neutral
Significant intraday resistance – 0.92750
The pair is trading higher for the fourth consecutive day from a low of 0.91771. The upbeat US Non-Farm payroll data has pushed the US 10-year yield highest level since Nov 2019. The chance of a rate hike by the Fed in the next meeting also supports the pair at lower levels. USDCHF hits a high of 0.92628 at the time of writing and is currently trading around 0.92553.
Bullish scenario-
The primary levels to Watch – 0.9275. Any convincing surge above confirms intraday bullishness. A jump to 0.9341/0.9380/0.9435/0.9500 is possible.
Bearish scenario-
Intraday support – 0.9170. Break below that level will take the pair to 0.9090/0.9050.
Indicators (4-Hour chart)
Directional movement index – Neutral
CCI (50) - Neutral
It is good to sell on rallies around 0.9300 with SL around 0.9365 for a TP of 0.9090.
