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FxWirePro- USDCHF Daily Outlook

 

Ichimoku analysis (4-Hour chart)

 

 Tenken-Sen- 0.92164

 

Kijun-Sen- 0.92375

Previous week High– 0.92748

 

Today's  Low- 0.9190

 

The pair is trading weak after forming a temporary top around 0.92715. The minor weakness in the US dollar is putting pressure on this pair at higher levels. DXY continues to trade weak after forming a top around 92.74. Any breach below 92 confirms further bearishness. Markets eye US ISM services PMI for further direction.

 

Trend- Bearish

The near-term support is around 0.9190, breach below will take the pair to 0.9125/0.9090. On the higher side, immediate resistance is around 0.92750. Any convincing breach above targets 0.9300/0.9365.

 

Indicator (4 Hour chart)

 

CAM indicator –Neutral

 

Directional movement index –Bearish

 

It is good to buy on dips around 0.9208-10 with SL around 0.91800 for a TP of 0.9300.

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