USD/CHF Plunges as Safe Havens Gain Traction

USDCHF lost its momentum as demand for safe-haven assets increased. It hit an intraday low of 0.81570 and is currently trading around 0.81782. Intraday bias appears to be bearish as long as the resistance 0.8250 holds. 

With exporting countries such as India experiencing financial losses and decreased competitiveness, while U.S. enterprises prepare for escalating costs, global worries about trade friction have been sparked by Donald Trump's doubling of tariffs on steel and aluminum to 50%. The move, lacking economic justification and contradicting environmental goals, is expected to disrupt supply chains, strain diplomatic ties, and increase business uncertainty amid potential retaliatory measures.

Technical Analysis Points to Further Upside

The pair is trading below the   55-EMA, below  200 EMA and 365 EMA on the 1-hour chart  indicates a mixed trend. The immediate resistance is at  0.8350 any break above  targets 0.8375/0.8435/0.8480.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8170, any violation below will drag the pair to 0.8135/0.8090/0.8000.

Bullish  Indicators (1-Hour)

CCI (50) - Bearish
Directional movement Index -  neutral

Trading Strategy Recommendation

It is good to sell on rallies around 0.8200 with a stop-loss at 0.82500 for a TP of 0.8090.