USDCHF trades higher for the fourth consecutive week on board- based US dollar buying. Having made an intraday high of 0.83830, it is currently trading at 0.83568.
Technical Analysis Points to Further Bullishness
The pair is trading above the 55-EMA, above 200-EMA, and 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at 0.8400; any break above targets 0.8465/0.8500.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8320; any violation below will drag the pair to 0.8280/0.8220/0.8180.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.8320 with SL around 0.8280 for a TP of 0.8465.
