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FxWirePro- USDCHF Daily Outlook 

Ichimoku analysis (4-Hour chart)

 Tenken-Sen- 0.90179

Kijun-Sen- 0.90003

USDCHF continues to trade in a narrow range between 0.8945 and 0.90515. The pair declined after a minor pullback above 0.9000. The US 10-year bond yield is trading weak for the third consecutive day and lost more than 5%. The surge in inflation and hopes of the Fed's bond-buying taper is supporting the US dollar at lower levels. The US dollar index is holding above 90 levels, a jump till 90.60 is possible. The long-term trend is still on the downside as long as resistance 0.94725 holds. 

Intraday day outlook:

Trend- Bearish  
The pair is holding below 4- Hourly Tenken-Sen, Kijun-Sen, and cloud. The near-term support is around 0.8960. Any indicative break below will take the pair to next level to 0.8920. On the higher side, near-term resistance is around 0.9030. Any convincing breach above targets 0.9055/0.9075/0.9095/0.9150.

Indicator (4-Hour chart)

RSI – Bearish

Directional movement index – Neutral

It is good to stay away from the pair as long as holding below 0.9050.
 

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