USDCHF breaks significant resistance 0.8090 on board-based US dollar buying. It hits an intraday high of 0.81058 and is currently trading around 0.081003.
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 0.8020/0.7980/0.7920/0.7860/0.7800.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.8090 with a stop-loss at 0.8058 for a TP of 0.8170/0.8215.
