USDCHF trades higher on board-based US dollar buying, good to buy on dips silver
Intraday bias remains bullish as long as support 0.84990 holds. It hit a low of 0.85314 yesterday and is currently trading around 0.85505.
Market eyes on Fed member Bostin, Collins, and Jefferson's speech for further movement.
Technicals-
The pair is trading above 34 and 55 EMA in the 1-hour chart.
The near-term resistance is around 0.8620 any break above targets 0.8660/0.8698/0.8750. The bearish pattern from 0.92244 will be completed at 0.8375 if the pair closes above 0.8750. A jump to 0.8800/0.8925 is possible. The immediate support is at 0.84990, any violation below will drag the pair to 0.8440/0.8420/0.8390/0.8365 (61.% fib projection)/0.8340.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index - Neutral. Overall trend is mixed.
It is good to buy on dips around 0.8550 with SL around 0.84990 for a TP of 0.8660/0.8698.
