USDCHF holds above 0.8500 on board-based US dollar buying. It hit a high of 0.85371 and is currently trading around 0.85128.
Technicals-
The pair trades above 34 and 55 EMA in the 4 hour chart.
The near-term resistance is around 0.8545, a breach above targets 0.8590/0.8625. Intraday trend is bullish as long as support 0.8474 holds. The immediate support is at 0.8474, 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)- Bullish
CCI (50)- Bullish
Average directional movement Index - Bullish. Overall trend is bullish.
It is good to buy on dips around 0.84980 with SL around 0.8474 for a TP of 0.8545.
