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FxWirePro: USDCHF Daily Outlook
Ichimoku Analysis (4 Hour chart)
USDCHF's declined after a minor jump till 0.90920 levels. The pair is struggling to break above 200-H MA on broad-based US dollar selling. The surge in global equities on COVID-19 vaccine optimism has decreased demand for safe-haven assets. DXY formed a minor top around 92.05 yesterday and started to decline. Any violation below 91.50 confirms a bearish continuation. USDCHF hits an intraday low of 0.90339 and is currently trading around 0.90342.
The pair is facing strong resistance at 0.9060 and any break above 0.9100/0.9165.Significant buying only above 0.93000.
It is good to sell on rallies around 0.9058-60 with SL around 0.9100 for the TP of 0.8980.