|   Technicals


  |   Technicals


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.


Bullish scenario-

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.


Bearish scenario-

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.



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