Ichimoku analysis (Hourly chart)
Tenken-Sen - 1.0056
Kijun-Sen- 1.0072
USDCHF is trading weak for third consecutive days after forming temporary top around 1.01285. The pair hits low of 1.00389 at the time of writing and is currently trading around 1.00479. The global sell-off in stock market and slight short covering in USD is supporting Swiss Franc But intraday trend is still bullish as long as support 1.0020 holds It is currently trading around 1.00476.
US CPI data came better than expected and rose most in 9 months. The inflation YOY came at 2.5% up from 2.3% annual gain in Sep.
Technically , near term support is around 1.0040 (trend line support) and any violation below targets 1.0020 (20- day MA)/1.000/0.9950. Short term weakness below 0.9950 level.
It is good to buy on dips around 1.0050 with SL around 1.0020 for the TP of 1.01250.
