USDCHF showed a minor pullback after a slight sell-off. Having made a low of 0.7735 yesterday, it is currently trading at 0.78890.
Technical Analysis Points to Further Bullishness
The pair is trading above the 55-EMA, 200-EMA, and 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at 0.7925; any break above targets 0.7965/0.8000.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7830; any violation below will drag the pair to 0.7800/0.7765/0.7000/0.7660/0.7628.
Indicators (4-hour chart)
CCI (50) - Neutral
Directional Movement Index - neutral
Trading Strategy Recommendation
It is good to buy on dips around 0.7848-50 with SL around 0.7800 for a TP of 0.7965/0.8000.
