Ichimoku analysis (Weekly chart)
Tenken-Sen- 0.90383
Kijun-Sen- 0.90383
USDCHF is trading higher for a fourth consecutive week and jumped more than 5% on broad-based US dollar buying. The surge in US bond yield is supporting the pair at lower levels. US dollar index continues to trade higher and holding above 92 levels. Any violation above 92.20 confirms bullish continuation. . The US economy has added 379k jobs in Feb much above expectations of 148k. The unemployment rate declined to 6.2% vs an estimate of 6.3%. Average hourly earnings came in line with an estimate at 0.2%.
The overall trend is still bullish as long as support 0.9220 holds. The pair hits an intraday high of 0.93287 and is currently trading around 0.93265.
The pair is trading slightly above 0.9320, this confirms minor bullishness. A jump till 0.9365/0.9400/0.9460 likely. On the lower side, significant support stands at 0.9260, any indicative break below targets 0.9220/0.91440.
Indicator (Daily chart)
CAM indicator – bullish
Directional movement index – Neutral
It is good to buy on dips around 0.9300 with SL around 0.9260 for a TP of 0.9400.
