Major Intraday resistance -0.92750
Intraday support- 0.9180
The pair continues to trade lower after a minor pullback to 0.9253. The intraday trend is still weak as long as resistance 0.92750 holds. The board-based US dollar selling is preventing the pairs from further upside. The US dollar index is holding below 94 levels. Any breach below 93.50 confirms further bearishness. At the time of writing, USDCHF is hovering around 0.92030 up 0.16%.
Woodies and CCI analysis-
The CCI (50) are trading below zero lines (bearish trend). In Woodies CCI is holding above zero lines bearish trend not confirmed.
Trend-Bearish
USDCHF is facing strong resistance around 0.92750. Any break above targets 0.9320/0.9365. It should surge past 0.9370 for further bullish continuation. A jump to 0.9400/0.9425 is possible. On the lower side, immediate support is around 0.9180. Any convincing breach below targets 0.9160/0.91150.
Indicator (4-hour chart)
Directional movement index - neutral
It is good to sell on rallies around 0.9235-80 with SL around 0.92750 for a TP of 0.91150.
