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FxWirePro- USDCHF Daily Outlook

Intraday trend – Bullish

 

Significant intraday resistance – 0.9380

 

The pair is consolidating in a narrow range after hitting a high of 0.93378. The US dollar gained sharply after the hawkish Fed monetary policy. US GDP growth accelerated at a 6.9% annualized pace compared to a forecast of 5.3%. US 2-year yield has shown a massive rally and hits the highest level since Feb 2020. USDCHF hits an intraday low of 0.93263 and is currently trading around 0.93160.

 

Bullish scenario-

The primary levels to Watch – 0.9380. Any convincing surge above confirms intraday bullishness. A jump to 0.9435/0.9500 is possible.

 

Bearish scenario-

Intraday support – 0.93000.  Break below that level will take the pair to 0.9270/0.9220/0.9180.

Indicators (4-Hour chart)

 

Directional movement index – Bullish

 

CCI (50) - Bullish

 

It is good to buy on dips around 0.9300 with SL around 0.9260 for TP of 0.9380/0.9435.

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