USDCHF gained sharply above 0.8250 as the US dollar gains momentum. Having made an intraday high of 0.82591, it is currently trading at 0.82583.
Technical Analysis Points to Further Bullishness
The pair is trading above the 55-EMA, above the 200-EMA, and above the 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at 0.82650; any break above targets 0.8300/0.83469/0.8400.
Support Levels and Potential Declines
On the downside, near-term support is around 0.82250; any violation below will drag the pair to 0.8170/0.8070/0.8000.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Neutral
Trading Strategy Recommendation
It is good to buy on dips around 0.82250 with SL around 0.8165 for a TP of 0.8340/0.8400.
