FxWirePro: USD/JPY slips below 109 handle as Japan looks set to extend and expand the state of emergency
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 continues to trade lower after a minor pullback till 0.91955. The broad-based US dollar selling is putting pressure on this pair at higher levels. The minor sell-off in US bond yields and upbeat market sentiment is dragging the US dollar index. DXY is trading weak; a dip to 90.60 is possible. The US 10-year bond yield has lost more than 13% from the minor top 1.77%. Markets eye US initial jobless claims data for further direction. USDCHF hits an intraday high of 0.91955 and is currently trading around 0.91496.
The pair is facing significant resistance at 0.92000 (200-H MA); any jump above this confirms intraday bullishness. A jump to 0.92250/0.9240/0.92600/0.9300 likely. Significant bullish continuation only if it breaks 0.93700. On the lower side, significant support stands at 0.91250, any indicative break below targets 0.90947 (200-day MA)/0.90540/0.9000.
Ichimoku Analysis- The pair is trading below daily Kijun-Sen, Tenken-Sen, and cloud. Major weakness only if it breaks 0.9095.
Indicator (Daily chart)
CAM indicator – Neutral
Directional movement index – Bearish
It is good to sell on rallies around 0.9178-80 with SL around 0.9220 for a TP of 0.9095.