USD/CHF Consolidates Amid SNB Concerns: Buy the Dip to 0.8500?

USDCHF is consolidating after a massive pullback. It hits an high of 0.83350 and is currently trading around 0.82944. Intraday bias appears to be bullish  as long as the support 0.8180 holds. 

At the April 25, 2025, SNB annual conference, Chairman Martin Schlegel warned that increased global trade tensions, particularly the US tariff war, are to slow down the economic growth of Switzerland and inject enormous uncertainty. He referred to the risk of global economic fragmentation and the challenge of low inflation and reaffirmed the SNB's commitment to price stability with potential monetary policy tools, such as setting interest rates and intervening in currencies. The appreciation of the Swiss franc, on the basis of its safe-haven status, also makes life harder for Swiss exporters. Schlegel laid particular stress on stable prices as a means of guiding Switzerland through these turbulent times

Technical Analysis Points to Further Upside

The pair is trading above the 34-EMA and  55-EMA on the 4-hour chart  indicates a minor up trend. The immediate resistance is at 0.8340 any break above  targets 0.8380/0.8500.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8250, any violation below will drag the pair to 0.8200/0.8180/0.8135/0.8090/0.8000.

Bullish  Indicators

CCI (50) - Bullish
Directional movement Index -  Bullish

Trading Strategy Recommendation

It is good to buy on dips around 0.8300 with a stop-loss at 0.8250 for a TP of 0.8500.