USDCHF showed a minor pullback due to short covering.It hit a high of 0.8485 and is currently trading around 0.84744
The safe-haven demand and policy divergence between the US Fed and SNB puts pressure on the pair at higher levels.
Technicals-
The pair trades below 34- and 55 EMA in the hourly chart.
The near-term resistance is around 0.8500, a breach above targets 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
Average directional movement Index - Neutral.
It is good to sell on rallies around 0.8500 with SL around 0.85425 for a TP of 0.8400.
