Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- USDCHF Daily Outlook

Ichimoku analysis (4 Hour chart)

 

Tenken-Sen- 0.91265

 

Kijun-Sen- 0.91698

 

June month high– 0.92750

 

 The pair has shown a minor pullback above 100-day MA on board-based US dollar buying.  The US dollar index surged more than 50 pips despite weak US retail sales. It has dropped 1.1% in July compared to a forecast of -0.2%. Markets eye US Fed meeting minutes for further direction. At the time of writing, USDCHF is hovering around 0.91401 up 0.05%.

 

 Trend- Bearish

The near-term resistance is around 0.9175, any breach above targets 0.9200/0.9240/0.9275. Bullish trend continuation only if it breaks 0.92750. On the lower side, immediate support is around 0.91150. Any convincing breach below will take to the next level 0.90750/0.9050.

.

 Indicator (4-Hour chart)

 

 CAM indicator –Bearish

 

 Directional movement index –Neutral

 

It is good to sell on rallies around 0.9118-20 with SL around 0.9150 for a TP of 0.9050.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.