FxWirePro: USDCHF Daily Outlook
Ichimoku Analysis (1-hour chart)
USDCHF has once again recovered from a low of 0.90500 levels. US data released today was mixed with the Empire State manufacturing index for September at 17 compared to forecast of 6.2, while industrial production came well below estimate at 0.4%. Markets eye Fed monetary policy for further direction. The pair hits an intraday high of 0.90864 and is currently trading around 0.90825.
The pair is still in a downtrend, any break above 0.9200 (Aug 12th high) confirms bullish continuation. Any violation above targets 0.9245. The minor resistance is around 0.9120/0.9165. The near-term support is around 0.9050, any break below will drag the pair down till 0.9000/0.8940. The decline from 0.9900 will get completed at 0.9050 only if it breaks 0.9250.
It is good to sell on rallies around 0.9148-50 with SL around 0.92000 for the TP of 0.9050.