|   Technicals


  |   Technicals


FxWirePro- USDCHF Daily outlook

Intraday trend – Bearish


Significant intraday support – 0.9090


The pair declined sharply more than 100 pips on board-based US dollar weakness. The producer price rose by 0.20% from the previous month and annual inflation gained 9.7%. The US dollar index continues to trade weak for the fourth consecutive week. It hits an intraday low of 0.90920 and is currently trading around 0.90978.


Bullish scenario-

The primary levels to Watch – 0.9150. Any convincing surge above confirms intraday bullishness. A jump to 0.9200/0.9230/0.92750 is possible.


Bearish scenario-

Intraday support – 0.9090. Break below that level will take the pair to 0.9050/0.900.

Indicators (4-Hour chart)


Directional movement index – Bearish


CCI (50) - Bearish


It is good to sell on rallies around 0.9138-40 with SL around 0.9180 for TP of 0.9000.


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