Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.91711
Kijun-Sen- 0.91612
USDCHF is trading in a narrow range between 0.91845 and 0.91596 for the past two trading days. The US dollar gained sharply after Trump asked to stop fiscal stimulus negotiations with Democrats. But fresh hopes of a stimulus package are putting pressure on the US dollar index. DXY has lost more than 35 pips from an intraday high of 93.90. The pair hits a low of 0.91594 at the time of writing and is currently trading around 0.91697.
The pair is significant resistance around 0.91840 (200-4H EMA), any indicative break above targets 0.9200/ 0.9250. Significant buying only above 0.9300. The near-term support is around 0.91350, any break below will drag the pair down till 0.9100/0.9050.
It is good to sell on rallies around 0.9178-80 with SL around 0.92150 for the TP of 0.9050.
