FxWirePro: GBP/CHF edges higher from session lows, lower-than-expected plunge in UK Retail Sales supports pound
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(AUDUSD and DXY) for the day
FxWirePro- USDCHF Daily outlook
Intraday trend – Bearish
Significant intraday support – 0.9090
The pair is trading weak for the past week and lost more than 200 pips. The bearish trend in the US dollar is putting pressure on the pair at higher levels. US retail sales declined by 1.9% in Dec compared to a forecast of -0.1%. The US dollar index regained above 95 on surging US treasury yield. It hits an intraday low of 0.91222 and is currently trading around 0.91254.
The primary levels to Watch – 0.9160. Any convincing surge above confirms intraday bullishness. A jump to 0.9200/0.9230/0.92750 is possible.
Intraday support – 0.9090. Break below that level will take the pair to 0.9050/0.900.
Indicators (4-Hour chart)
Directional movement index – Bearish
CCI (50) - Bearish
It is good to sell on rallies around 0.9138-40 with SL around 0.9180 for TP of 0.9000.