USDCHF holds above 0.7950 on board-based US dollar buying. Having made an intraday high of 0.79800, it is currently trading at 0.79668.
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 0.8000, any break above targets 0.8040/0.8090/0.81250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7920; any violation below will drag the pair to 0.7900/0.7865/0.7800/0.7765/0.7000/0.7660/0.7628.
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.
