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FxWirePro- USDCHF Daily Outlook

Intraday bias remains neutral as long as resistance 0.8540 holds. It hit a high of 0.84946 and is currently trading around 0.84930. Technicals- The pair is trading above 34 and below 55 EMA in the 4-hour chart. The near-…

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FxWirePro- USDCHF Daily Outlook
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Intraday bias remains neutral as long as resistance 0.8540 holds. It hit a high of  0.84946 and is currently trading around 0.84930.

 

Technicals-

 

The pair is trading above  34 and below 55 EMA in the 4-hour chart.

 

The near-term resistance is around 0.8540, a breach above targets 0.8590/0.8635.The bearish pattern from 0.92244 will get completed at 0.8375 if pair breaks above 0.8540.  The immediate support is at 0.8480, any violation below will drag the pair to 0.8420/0.8400/0.8365 (61.% fib projection)/0.8340.

 

Indicator (4-hour chart)

 

CCI (14)- Bullish

 

CCI (50)- Bullish

 

Average directional movement Index - neutral .Overall trend is mixed

 

It is good to sell on rallies around 0.8500  with SL around 0.8540 for a TP of 0.8405.

 

 

 

 

 

 

 

 

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