USDCHF gained above 0.8000 on board-based US dollar buying. It hits an intraday high of 0.80168 and is currently trading around 0.080126.
Technical Analysis Points to Further Upside
The pair is trading above the 55-EMA, below the 200 EMA, and 365 EMA on the 1-hour chart, indicating a bullish trend. The immediate resistance is at 0.8030, any break above targets 0.8065/0.8090/0.8140/0.8180/0.8250/0.8300.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7980; any violation below will drag the pair to 0.7920/0.7860/0.7800.
Indicators (15 min chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.7990 with a stop-loss at 0.7950 for a TP of 0.8090.
