USDCHF is exhibiting a slight sell-off amid easing geopolitical tensions and is meeting significant trend-line resistance around 0.79800–0.79850. It is now trading at 0.79614, having reached a high of 0.79842
Technical Analysis Points to Further Bullishness
The pair is trading above the 55-EMA, 200-EMA, and 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at 0.8000, any break above targets 0.8040/0.8090/0.8150.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7925; any violation below will drag the pair to 0.7865/0.7800/0.7765/0.7000/0.7660/0.7628.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - neutral
Trading Strategy Recommendation
It is good to buy above 0.8000 with SL around 0.7948 for a TP of 0.8150.
