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.
