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USD/CHF Bounces with Dollar's Surge, Eyes Bullish Breakout Above Key Resistance

USDCHF recovered slightly as the dollar gained momentum. Currently trading at 0.79540, it reached a high of 0.795740 at the time of writing. 

Technical Analysis Points to Further Bearishness

The pair is trading above 55-EMA,  the 200 EMA, and above 365 EMA on the 1-hour chart, indicating a mixed trend. The immediate resistance is at  0.7965; any break above targets  0.8000/0.8020/0.8070/0.8090/0.8135/0.8170/0.8215/0.8250.

Support Levels and Potential Declines

On the downside, near-term support is around 0.7900; any violation below will drag the pair to 0.7860/0.7800.

Indicators (1-hour chart)

CCI (50) - Bullish

Directional Movement Index -  Neutral

Trading Strategy Recommendation

It is good to buy on dips around 0.7918-20 with SL around 0.7870 for a TP of 0.8070.

 

 

 

 

 

 

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