Ichimoku Analysis (Daily chart)
Tenken-Sen- 0.90940
Kijun-Sen- 0.90940
USDCHF surged sharply after a minor consolidation. The broad-based US dollar buying is supporting prices at lower levels. DXY is trading higher; any violation above 93 confirms bullish continuation. The jump in yields also helping the US dollar. The 10-year yield hits the highest level, since June 2020 on vaccine hope. The number of coronavirus in the world surged to 51 million and death crossed to 1.27 million. USDCHF hits an intraday high of 0.91731 and is currently trading around 0.91720.
On the lower side, the pair is facing significant support at 0.9098 and any break below will drag down till 0.9050/0.9000. The near –term resistance is around 0.91650, an indicative break above targets 0.9210/0.9245.Significant buying only above 0.93000.
It is good to buy on dips around 0.9162-65 with SL around 0.9100 for the TP of 0.9290.
