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USD/CHF Smashes Higher to 0.7899 on Dollar Dominance—Bulls Bet on 0.7865 Dips for 0.8000 Breakout

 

 

USDCHF gained sharply on board-based US dollar buying. Having made an intraday high of 0.78992, it is currently trading at 0.78570.

Technical Analysis Points to Further Bearishness

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  0.79050,any break above targets 0.7925/0.7960/0.8000/0.8040.

Support Levels and Potential Declines

On the downside, near-term support is around 0.7860; any violation below will drag the pair to 0.7800/0.7765/0.7000/0.7660/0.7628.

Indicators (4-hour chart)

CCI (50) - Bullish

Directional Movement Index -  Bullish

Trading Strategy Recommendation

It is good to buy on dips around 0.7865-68 with SL around 0.7800 for a TP of  0.8000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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