FxWirePro- USDCHF Trade Idea

USDCHF gained slightly on board -based US dollar buying.  It hits an low of 0.80983 and is currently trading around 0.81992. Intraday bias appears to be bearish  as long as the resistance 0.8270 holds. 

The Philadelphia Fed Manufacturing Index fell to -26.4 in April 2025 from 12.5 in March, which shows regional factory activity declined due to a sudden decline in new orders and jobs, though input costs are on the rise, a sign of severe economic headwinds facing producers in Eastern Pennsylvania, New Jersey, and Delaware.

U.S. Initial Jobless Claims declined to 215,000 during the week of April 12, down from 224,000 in the previous week, and Continuing Jobless Claims for the week of April 5 declined to 1.85 million from 1.87 million, reflecting a healthy and robust U.S. labor market with record low levels of unemployment claims

Technical Analysis Points to Further Downside

The pair is trading below the 34-EMA and below  55-EMA on the 4-hour chart  indicates a minor up trend. The immediate resistance is at 0.8200 any break above  targets 0.82250/0.8270/0.8320. 

Support Levels and Potential Declines

On the downside, near-term support is around 0.8090, any violation below will drag the pair to 0.8050/0.8000.

Bearish Indicators

CCI (50) - Bearish
Directional movement Index -  Neutral

Trading Strategy Recommendation

It is good to sell on rallies around 0.82050 with a stop-loss at 0.82650 for a TP of 0.8000.