FxWirePro: USDCHF Daily Outlook
Ichimoku Analysis (4-hour chart)
USDCHF has one again declined after showing a minor jump above the 0.9700. The intraday trend is slightly weak as long as resistance 0.9720 holds. The pair was trading in a narrow range between 0.98027 and 0.95886 for the past 28 days. DXY is trading well below 99 levels, major weakness can be seen below 98.27.
US Durable goods orders came at -17.2% in Apr vs forecast of -18.2%. The number of people filed for unemployment claims rose to 2123K in a previous week vs estimate 2100K.
The near term minor resistance is at 0.9720, any break above targets 0.9760/0.9785. Minor bearish reversal can happen only above 0.98027 (Apr 24th, 2020 high) and surge past that level will reach 0.9900.
On the flip side, the pair is facing strong support at 0.9635 and any indicative close beneath will drag the pair down till 0.9585/0.9540.
It is good to sell on rallies around 0.9668-670 with SL around 0.9720 for the TP of 0.9545.