USDCHF formed a triple bottom near 0.8180 and showed a minor pullback. It hit an intraday high of 0.82685 and is currently trading around 0.82666. Intraday bias appears to be bullish as long as the support 0.8180 holds.
Markets eye US Durable goods order data and SNB chairman speech today for further direction.
Technical Analysis Points to Further Upside
The pair is trading above the 55-EMA, below 200 EMA and 365 EMA on the 1-hour chart indicating a mixed trend. The immediate resistance is at 0.8272 any break above targets 0.8300/0.8350/0.8375.
Support Levels and Potential Declines
On the downside, near-term support is around 0.82250, any violation below will drag the pair to 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 0.8258-60 with a stop-loss at 0.82220 for a TP of 0.8378/0.8405.
