FxWirePro- USDCHF Daily Outlook

Ichimoku analysis (1-hour chart)

 Tenken-Sen- 0.92447

Kijun-Sen- 0.92548

USDCHF has taken support near trend line support and shown a minor recovery. Fed has kept its rates unchanged as expected and said that it is planning to kept rates on hold until the end of 2023. The central bank has upgraded 2021 GDP to 6.5% from 4.2%,core PCE forecast rose to 2.2% in 201 from 1.8%. While the unemployment rate lowered to 4.5% in 2021 from 5%. The US 10-year yield jumped sharply to 1.744% and hits a fresh 13-month high on the dovish Fed statement.  The pair hits an intraday low of 0.92193 and is currently trading around 0.92500.       

The pair is facing significant resistance at 0.92880 (200-H MA), this confirms intraday bullishness. A jump till 0.93250/0.9375 (Mar 9th, 2021). On the lower side, significant support stands at 0.9208 (channel support, any indicative break below targets 0.9180/0.9150/0.9100.

Ichimoku Analysis- The pair is trading below Kijun-Sen and cloud. But it should close below 0.92080 for bearish continuation.

Indicator (4-hour chart)

CAM indicator – Neutral

Directional movement index – Neutral

It is good to sell on rallies around 0.9260-625 with SL around 0.9300 for a TP of 0.9150.