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USDCHF Bears Eye Deeper Slide: Sell Rallies as Cooling US Inflation Fuels Franc Strength

USDCHF gained slightly as US inflation cools. Having made an intraday low of 0.76704, it is currently trading at 0.76833.

Technical Analysis Points to Further Bullishness

The pair is trading below the 55-EMA, 200-EMA, and 365-EMA on the 4-hour chart, indicating a bearish trend. The immediate resistance is at  0.77250; any break above targets  0.7755/0.7800/0.7865/0.7925/0.7965/0.8000.

Support Levels and Potential Declines

On the downside, near-term support is around 0.7660; any violation below will drag the pair to 0.7628/0.7600/0.7540/0.7500.

Indicators (4-hour chart)

CCI (50) - Bearish

Directional Movement Index -  Neutral

Trading Strategy Recommendation

It is good to sell on rallies around 0.7728-30 with SL around 0.7785 for a TP of 0.7500.

 

 

 

 

 

 

 

 

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