FxWirePro: AUD/USD bounces off from three-week low, extends gains to test 5-DMA after Aussie ignores RBA minutes
FxWirePro: AUD/USD holds marginal gains ahead of FOMC meet, PBOC event and Evergrande updates support risk-on
FxrWirePro- USDCHF Daily Outlook
Ichimoku analysis (4-hour chart)
This week High– 0.92326
The pair has broken significant support 0.91150 after a long consolidation. The dovish comments by Fed Chairman are dragging the US dollar in a further direction. The Fed has kept its rates unchanged as expected and to continue bond-buying for at least by Dec 2021. The central bank has said that "the economy has made progress" toward the goals of maximum employment and price stability".USDCHF hits an intraday low of 0.90805 and currently trading around 0.90808.
The near-term support is around 0.9070 (200-day MA), any breach below confirms further weakness. A dip till 0.9059/0.9000. On the higher side, immediate resistance is around 0.9125. Any convincing breach above targets 0.9180/0.92380/0.9275
Indicator (4 Hour chart)
CAM indicator – Bearish
Directional movement index –Bearish
It is good to sell on rallies around 0.9120 with SL around 0.9170 for a TP of 0.9000.