Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.91982
Kijun-Sen- 0.92591
USDCHF recovered slightly till 0.92300 after hitting a low of 0.91655. The pair was one of the best performers in this month and lost more than 300 pips on broad-based US dollar selling. The second wave of coronavirus in major U.S cities has increased the pessimism of V-Shaped recovery. The US durable goods orders came at 7.3% mom better than the forecast of 6.5% mom. Markets eye fed monetary policy tomorrow for further direction. It is currently trading around 0.93335.
Short term:
In the 4-hour chart, the pair is holding slightly above Tenken-Sen 0.91982. Any break above 0.9265 confirms intraday bullishness, a jump till 0.9300/0.9362 likely.
The pair is facing primary support at 0.9160, break below confirm next leg of bearishness. A dip till 0.90785 is possible.
It is good to buy on dips around 0.9200 with SL around 0.9160 for the TP of 0.9325.
