Ichimoku Analysis (4- hour chart)
Tenken-Sen- 0.91906
Kijun-Sen- 0.92035
USDCHF is trading well below 55 4H EMA on a slight weakness in the US dollar. The positive update on Donald Trump's health has improved global market sentiment and US dollar index lost more than 20 pips for the day. Any violation below 93.50 confirms a bearish continuation, a dip till 93.28/93 is possible. The slight weak US nonfarm payroll data is also putting pressure on the US dollar index. The US economy has added 661000 jobs compared to an estimate of 900K. The unemployment rate declined to 7.9% from 8.2%. The pair hits an intraday low of 0.91602 and is currently trading around 0.91626.
The pair is significant resistance around 0.9250, any indicative break above targets 0.9300/ 0.9365/0.9435. Minor resistance is at 0.9180/0.9220. The near-term support is around 0.91600, any break below will drag the pair down till 0.91270/0.9050.
It is good to sell on rallies around 0.9188-90 with SL around 0.9245 for the TP of 0.9050.
