Ichimoku Analysis (1-hour chart)
Tenken-Sen- 0.91508
Kijun-Sen- 0.91635
USDCHF is trading weak and lost more than 80 pips on broad-based US dollar selling. The upbeat market mood ahead of the US election is putting pressure on the US dollar. Markets eye US election results for further direction. The rise in the number of coronaviruses might cap the further downside. DXY is holding slightly below 200- 4H MA, any significant weakness only below 93.25. USD CHF hits an intraday low of 0.91182 and is currently trading around 0.91232.
On the lower side, the pair is facing significant support at 0.9100 and any break below will drag the pair down till 0.9050/0.9030. The near –term resistance is around 0.9165, an indicative break above targets 0.9210/0.92450/0.9290.Significant buying only above 0.93000.
It is good to sell on rallies around 0.9148-50 with SL around 0.92000 for the TP of 0.9050.
