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USD/CHF Bulls Charge Past 0.8000 – Next Stop 0.8150?


USDCHF holds above 0.8000 on board-based US dollar buying.. Currently trading at 0.80196, it reached an intraday high of 0.80306.

 

Technical Analysis Points to Further Bullishness

The pair is trading above the 55-EMA, below the 200-EMA, and 365 EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at  0.8070; any break above targets  0.8100/0.8150.

Support Levels and Potential Declines

On the downside, near-term support is around 0.7960; any violation below will drag the pair to 0.7920/0.7865/0.7800.

Indicators (4-hour chart)

CCI (50) - Bullish

Directional Movement Index -  Bullish

Trading Strategy Recommendation

It is good to buy on dips around 0.8000 with SL around 0.7965 for a TP of 0.8090/0.8145.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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