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FxWirePro: USDCHF Daily outlook
Ichimoku Analysis (4-hour chart)
USDCHF continues to trade lower after a minor jump till 0.94330. US PPI declined unexpectedly to -0.2% compared to a forecast of 0.4%. The rising US.S stocks and declining yields are putting pressure on the U.S dollar. The intraday trend is weak as long as resistance 0.9430 holds. It hits an intraday low of 0.93848 and is currently trading around 0.94033.
In the 4-hour chart, the pair is holding well below 55 EMA at 0.9430 and any violation above 0.9430 will take the pair to next level till 0.9470/0.9535.
The pair is facing primary support at 0.9360,a firm break below will confirm minor bearish continuation. A dip till 0.9300/0.9260.
On the higher side, significant resistance is at 0.9410, and the jump above will take the pair to the next level till 0.9430/0.9470. Minor support stands at 0.9380.
It is good to sell on rallies around 0.9420 with SL around 0.9450 for the TP of 0.9300.