USDCHF surged above 0.8000 after the US CPI. It hits an intraday high of 0.80225 and is currently trading around 0.80219. Intraday bias appears to be bullish as long as support 0.7920.
The U.S. Consumer Price Index for June 2025 indicates a modest acceleration in inflation, with headline CPI rising 0.3% month-over-month to 2.7% year-over-year—its highest annual rate since February—while core CPI increased 0.2% monthly to 2.9% annually, aligning with expectations. Price increases were predominantly driven by shelter, energy, and food costs, yet economists suggest underlying inflation remains contained by temporary factors, allowing the Federal Reserve to likely maintain its patient stance on rate adjustments.
Technical Analysis Points to Further Upside
The pair is trading above the 55-EMA, 200 EMA, and 365 EMA on the 60-minute chart, indicating a bullish trend. The immediate resistance is at 0.8050, any break above targets 0.8090/0.8140/0.8180/0.8250/0.8300.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7950; any violation below will drag the pair to 0.7920/0.7900/0.7860/0.7800.
Indicators (60-min chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.8000 with a stop-loss at 0.7950 for a TP of 0.8090.
