USDCHF Neutral bias
Ichimoku analysis (4-hour chart)
This week High– 0.92326
Previous week low- 0.91330
The pair is consolidating this month and struggling to break above 0.92748. USDCHF has taken support near 200-4H MA and trading inside a narrow wedge pattern. The overall trend is neutral as long as resistance 0.92750 intact. The weak US jobless data s preventing the par from further upside. The number of people who have filed for jobless benefits surged to 419k for the week ended July 16th compared to a forecast of 350K.USDCHFhits an intraday high of 0.92080 and currently trading around 0.92046.
The near-term support is around 0.9150, the breach below will take the pair to 0.9120/0.9059/0.9000. On the higher side, immediate resistance is around 0.92380. Any convincing breach above targets 0.92750/0.93000.
Indicator (1 Hour chart)
CAM indicator – Bullish
Directional movement index –Neutral
It is good to buy on dips around 0.9170 with SL around 0.9130 for a TP of 0.9270.