USDCHF trades flat ahead of US economic data. It hit a high of 0.8484 and is currently trading around 0.84748.
The escalation of tension in the Middle East increases demand for safe-haven assets like Swiss franc.
Technicals-
The pair is trading below 34- and 55 EMA in the hourly chart.
The near-term resistance is around 0.84850, a breach above targets 0.8520/08570/0.8605/0.8640. The immediate support is at 0.8440, any violation below will drag the pair to 08400/0.8345.
Indicator (hourly chart)
CCI (14)- Bullish
CCI (50)- Bearish (below -100)
Average directional movement Index - Neutral. The overall trend is mixed.
It is good to sell on rallies around 0.8500 with SL around 0.85425 for a TP of 0.8400.
