USDCHF gained sharply on board-based US dollar buying. Having made an intraday high of 0.77549, it is currently trading at 0.77543
Technical Analysis Points to Further Bullishness
The pair is trading above the 55-EMA, 200-EMA, and 365-EMA on the 1-hour chart, indicating a bullish trend. The immediate resistance is at 0.7750; any break above targets 0.7800/0.7865/0.7925/0.7965/0.8000.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7700; any violation below will drag the pair to 0.7660/0.7628/0.7600/0.7540/0.7500.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.7728-30 with SL around 0.76980 for a TP of 0.7865.
