Ichimoku Analysis (4-hour chart)
Tenken-Sen- 0.91709
Kijun-Sen- 0.91760
USDCHF is consolidating in a narrow range between 0.91845 and 0.91596 for the past three days. The global markets gained sharply on fresh stimulus package hopes, especially for the airline industry. The US Fed minutes clearly stated that there will not any interest rates hike until full employment reached. DXY is struggling to break above 94 levels on upbeat market sentiment. USDCHF hits a high of 0.91820 at the time of writing and is currently trading around 0.91789.
The pair is significant resistance around 0.91827 (55-4H EMA), any indicative break above targets 0.9200/ 0.9250. Significant buying only above 0.9300. The near-term support is around 0.91400 (200- 4H MA), any break below will drag the pair down till 0.9100/0.9050.
It is good to sell on rallies around 0.9178-80 with SL around 0.92150 for the TP of 0.9050.
