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  |   Technicals


FxWirePro- USDCHF Daily Outlook

Ichimoku analysis (4-hour chart)

 Tenken-Sen- 0.92877

Kijun-Sen- 0.93260


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.

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