USDCHF holds above 0.8000 on board-based US dollar buying. Having made an intraday high of 0.80116, it is currently trading at 0.80015.
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 0.8040, any break above targets 0.8090/0.81250/0.8150.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7965; any violation below will drag the pair to 0.7920/0.7900/0.7865/0.7800/0.7765/0.7000/0.7660/0.7628.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.7965-68 with SL around 0.7900 for a TP of 0.8090/0.8125/0.8150.
