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.
