Ichimoku analysis (1-hour chart)
Tenken-Sen- 0.91505
Kijun-Sen- 0.91579
This week High– 0.92326
This month low- 0.91160
The pair continues to trade weak after a minor pullback to 0.91595. The overall trend is weak as long as resistance 0.972500 holds. US Durable goods orders climbed 0.8% last month compared to a forecast of 2.1%. U.S consumer confidence surged to 129.1 in Jul, the highest level since Feb 2020.USDCHF hits an intraday high of 0.91595 and currently trading around 0.91428.
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Trend- Neutral
The near-term support is around 0.91150, the breach below confirms that the jump from 0.8925 got completed at 0.9273. A dip till 0.9059/0.9000. On the higher side, immediate resistance is around 0.91850. Any convincing breach above targets 0.9235/0.92750/0.93000.
Indicator (1 Hour chart)
CAM indicator – Slightly Bullish
Directional movement index –Neutral
It is good to sell on rallies around 0.9158-600 with SL around 0.9210 for a TP of 0.9000.
