Swiss Franc Softens as USDCHF Bulls Regain Control: Pullback Offers Prime Entry Toward 0.8000

USDCHF showed a minor pullback  after a slight sell-off. Having made a low of 0.7735 yesterday, it is currently trading at 0.78890.

Technical Analysis Points to Further Bullishness

The pair is trading above the 55-EMA, 200-EMA, and 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at  0.7925; any break above targets  0.7965/0.8000.

Support Levels and Potential Declines

On the downside, near-term support is around 0.7830; any violation below will drag the pair to 0.7800/0.7765/0.7000/0.7660/0.7628.

Indicators (4-hour chart)

CCI (50) - Neutral

Directional Movement Index -  neutral

Trading Strategy Recommendation

It is good to buy on dips around 0.7848-50 with SL around 0.7800 for a TP of 0.7965/0.8000.