USDCHF gained sharply on board-based US dollar buying. Having made an intraday high of 0.81404, it is currently trading at 0.81390.
Technical Analysis Points to Further Bullishness
The pair is trading above the 55-EMA, above 200-EMA, and 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at 0.8150, any break above targets 0.8200/0.8225/0.8250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8070; any violation below will drag the pair to 0.8040/0.800/0.7965/ 0.7925/0.7865/0.7800/0.7765.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.81180-20 with SL around 0.8070 for a TP of 0.8250.
