USDCHF declined slightly from a minor top of 0.85375. It hit a low of 0.84720 and is currently trading around 0.84950.
Intraday trend is neutral as long as resistance 0.8540 holds.
Technicals-
The pair is trading below 34 and 55 EMA in the 4-hour chart.
The near-term resistance is around 0.8540, a breach above targets 0.8590/0.8640. The immediate support is at 0.84740, any violation below will drag the pair to 0.8460/0.8435/0.8400/0.83830 /0.8365 (61.% fib projection)/0.8340.
Indicator (4-hour chart)
CCI (14)- Bearish
CCI (50)- Bullish
Average directional movement Index - neutral. Overall trend is mixed.
It is good to sell on rallies around 0.8508-10 with SL around 0.8540 for a TP of 0.8450.
