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USD/CHF: Modest Gains Despite USD Weakness; Upside Potential to 0.8250

USDCHF gained slightly despite a weak US dollar.  It hits an intraday high of 0.81175  and is currently trading around 0.081125.

Technical Analysis Points to Further Upside


The pair is trading above the   55-EMA,  200 EMA, and below the 365 EMA on the 4-hour chart, indicating a mixed trend. The immediate resistance is at  0.8135, any break above targets 0.8170/0.8215/0.8250.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8060; any violation below will drag the pair to 0.8040/ 0.8020/0.7980/0.7920/0.7860/0.7800.

Indicators (4-hour chart)

CCI (50) - Neutral

Directional Movement Index -  Bullish

Trading Strategy Recommendation

It is good to buy on dips around 0.80600 with a stop-loss at 0.80250 for a TP of 0.8170/0.8215.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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