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Ichimoku analysis (1-Hour chart)
Tenken-Sen- 0.89640
Kijun-Sen- 0.89706
USDCHF continues to trade slightly weak after a minor pullback. The overall trend is still bearish as long as resistance 0.90530 holds. With no major economic indicator to push the price. Markets eye US CPI data for further direction. The US 10-year bond yield is trading weak and any breach below 1.50% for further weakness. The US dollar index is holding above 90 levels, an intraday bullishness only if it breaks 90.20. 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 (1-Hour chart)
RSI – Bearish
Directional movement index – Bearish
It is good to stay away from the pair as long as holding below 0.9050.
