Intraday trend – Bullish
Significant intraday resistance – 0.9325
The pair gained more than 150 pips this week due to strength in the US dollar. The escalation of Russia and Ukraine has increased demand for safe-haven assets like the US dollar. The minor pullback in the US treasury also supported the pair at lower levels. USDCHF hits a high of 0.93207 at the time of writing and is currently trading around 0.93162.
Bullish scenario-
The primary levels to Watch – 0.93250. Any convincing surge above confirms intraday bullishness. A jump to 0.9341/0.9380/0.9435/0.9500 is possible.
Bearish scenario-
Intraday support – 0.92450. Break below that level will take the pair to 0.9170/0.9090/0.9050.
Indicators (4-Hour chart)
Directional movement index – Bullish
CCI (50) - Bullish
It is good to buy on dips around 0.93150 with SL around 0.92750 for a TP of 0.9400.


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