FxWirePro: EUR/JPY regains upside traction, retraces above 200H MA after upbeat Eurozone Retail Sales data
FxWirePro- USDCHF Daily Outlook
Ichimoku analysis (4-hour chart)
USDCHF has broken significant support 0.9180 after a long consolidation. The broad-based US dollar selling is putting pressure on this pair. The minor sell-off in US bond yield is dragging the US dollar index down. The University of Michigan sentiment index rose to 86.5in Apr vs a forecast of 89.6. US 10-year yield lost more than 14% from temporary top 1.774%.DXY is trading below 91.50. this confirms minor bearishness, a dip till 90.60 likely. USDCHF hits an intraday low of 0.91544 and is currently trading around 0.91550.
The pair is facing significant resistance at 0.9185; any jump above this confirms intraday bullishness. A jump to 0.9240/0.92600/0.9300 likely. Significant bullish continuation only if it breaks 0.94725. On the lower side, significant support stands at 0.9150, any indicative break below targets 0.9100/0.90540.
Ichimoku Analysis- The pair is trading below daily Kijun-Sen, Tenken-Sen, and cloud. Major weakness only if it breaks 0.9150.
Indicator (4-hour chart)
CAM indicator – Bearish
Directional movement index – Bearish
It is good to sell on rallies around 0.91825-50 with SL around 0.9240 for a TP of 0.9056.