FxWirePro- USDCHF Daily Outlook
Ichimoku analysis (1 Hour chart)
The pair surged yesterday after a long consolidation and hits the highest level since Jun 1st, 2021. The US dollar strengthened sharply after upbeat US retail sales. At the time of writing, USDCHF is hovering around 0.92695 down -0.07%.
The US headline retail sales rose by 0.7% in Aug compared to an estimate of -0.7%. The number of people who have filed for unemployment benefits jumped by 20000 to 332000 for the week ended September.
USDCHF breaches significant resistance 0.92750 and this confirms the short-term uptrend. A jump to 0.93425/0.9400/0.94725 is possible. On the lower side, immediate support is around 0.9240 (resistance turned into support). Any convincing breach below will take to the next level0.9200/ 0.9150/ 0.91150/0.9995.
Indicator (Hourly chart)
CAM indicator –Neutral
Directional movement index –Neutral
It is good to buy on dips around 0.9258-60 with SL around 0.9220 for a TP of 0.93425.