USDCHF is trading higher for the second consecutive day on board-based US dollar buying. Hawkish fed and surge in US treasury yield supporting US dollar at lower levels. Markets eye US CB Consumer confidence and JOLTS job opening for further direction.
Technically in the hourly chart, the pair is holding above short term (21- and 55 EMA) and 200 EMA (0.95974). Any break above 0.9700 will take the pair to 0.9765/0.9800. USDCHF hits an intraday high of 0.96902 and is currently trading around 0.96911.
The near-term support is around 0.9660, and any breach below targets 0.9600/0.9570.
Indicators (1-hour chart)
CCI (50)- Bullish
ADX- Neutral
It is good to buy on dips around 0.9678-80 with SL around 0.9620 for TP of 0.9780.
