The pair consolidates after hitting five day high of 0.93532. It was one of the best performers this month and surged more than 100 pips on the hawkish Fed stance. 10-year US yield hits fresh year high after Brainard signals aggressive rate hikes. USDCHF hits an intraday high of 0.93532 and is currently trading around 0.93488.
The number of people who have filed for unemployment benefits declined to 166000 last week vs. an estimate of 201K.
Bullish scenario-
The primary level to Watch – is 0.93800. Any convincing surge above confirms intraday bullishness. A jump to 0.9435 is possible.
Bearish scenario-
Intraday support – 0.9300. Break below that level will take the pair to 0.9260/0.9200/0.9150/0.9090.
Indicators (4-Hour chart)
Directional movement index – Bullish
CCI (50) - Bullish
It is good to buy on dips around 0.93200 with SL around 0.9270 for a TP of 0.94350.
