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SNB Cut Aftermath: USDCHF Eyes Recovery

USDCHF trades flat after 150 pips pullback. It hits an intraday low of 0.81512 and is currently trading around 0.81655. Intraday bias appears to be bullish  as long as the support 0.8140 holds.  


Technical Analysis Points to Further Upside

The pair is trading below  the   55-EMA, 200 EMA and 365 EMA on the 4-hour chart  indicates a bearish trend. The immediate resistance is at  0.8188 any break above  targets 0.8250/0.8300.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8140, any violation below will drag the pair to 0.8090/0.8000.I

Indicators (4-Hour)

CCI (50) - Bullish
Directional movement Index -  Neutral

Trading Strategy Recommendation

It is good to buy on dips around 0.8160 with a stop-loss at 0.8120 for a TP of 0.82400.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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