Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.94135
Kijun-Sen- 0.94001
USDCHF is in the consolidation phase and intraday trend remains neutral as long as support 0.9360 holds. US CPI came at 0.6% mom in June better than an estimate of 0.5%, while Core Inflation rose 0.2% vs forecast of 0.1%. The decline in demand for Safe-haven due to Corona vaccine optimism is putting pressure on the U.S dollar. It is currently trading around 0.93860.
Short term:
In the 4-hour chart, the pair is holding well below 100 MA at 0.9445, and any violation above 0.9445 will take the pair to 0.9470/0.9535.
The pair is facing primary support at 0.9360, break below will confirm minor bearish continuation. A dip till 0.9300/0.9260.
It is good to sell on rallies around 0.9420 with SL around 0.9450 for the TP of 0.9300.
