Ichimoku analysis (Hourly chart)
Tenken-Sen- 0.88976
Kijun-Sen- 0.88976
USDCHF has once again declined after hitting a high of 0.89188 on broad-based US dollar selling. US President Trump signed a $2.3 trillion COVID-19 aid bill. The stimulus bill and EUR, UK Brexit deal is putting pressure on the US dollar index. DXY is consolidating between 89.73 and 91.01 for the past five trading days. Short term trend is neutral as long as resistance 0.8920 holds.
The pair is facing strong resistance at 0.8920, any break above will take to the next level till 0.8965/0.9000. Minor bullishness only above 0.9000.
On the lower side, the near term support is around 0.8870, and a dip till 0.8845/0.8800 is possible.
It is good to buy above 0.8920 with SL around 0.8890 for TP of 0.9000.
