FxWirePro- USDCHF Daily Outlook

Ichimoku analysis (4-hour chart)

 Tenken-Sen- 0.92982

Kijun-Sen- 0.92943

USDCHF jumped sharply nearly 150 pips after a long consolidation on broad-based US dollar buying. The demand for Safe-haven increased slightly after the extension of lockdown in Germany and the Netherlands and the slow rollout of the vaccine. The US 10-year bond yield cooled –off nearly 9% after hitting a multi-year high at 1.744%. DXY has broken 92.50 high made on Mar 9th. It should hold above 92.63 (200-day MA) for further jump till 93/93.40. USDCHF hits an intraday high of 0.93697 and is currently trading around 0.93488.          

The pair is facing significant resistance at 0.9375 (Mar 9th, 2021); a jump past this level confirms intraday bullishness. A jump till 0.94235/0.9460. On the lower side, significant support stands at 0.92688 (200-H EMA), any indicative break below targets 0.9220/0.9200/0.9150/0.9100.

Ichimoku Analysis- The pair is trading slightly above Kijun-Sen, Tenken-Sen, and cloud. But it should close above 0.9325 for minor bullishness.

Indicator (4-hour chart)

CAM indicator – Neutral

Directional movement index – Neutral  

It is good to buy on dips around 0.9265-68 with SL around 0.9220 for a TP of 0.9370.