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.
