Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.97612
Kijun-Sen- 0.97184
USDCHF is trading higher for 6-week and jumped more than 150 pips. The surge in bond yield and upbeat US jobs data is supporting the dollar index at lower levels. Markets eye US Non-Farm Payroll data for further direction. It hits an intraday high of 0.97837 and is currently trading around 0.97725.
US economy has added 225000 jobs in Jan vs forecast of 163000, unemployment slightly ticked up by 3.6% vs 3.5%. Average hourly earnings declined to 0.2% compared to 0.3%.
Technically, the pair is trading above 0.9766 and a jump till 0.9800/0.9845 likely. On the flip side, near-term support is at 0.9725 and the break beneath will drag the pair to the next level till 0.9670/0.96130/0.9545.
It is good to buy on dips around 0.9765-68 with SL around 0.9725 for the TP of 0.984
