USDCHF pared some of its gains on board-based US dollar selling. It hit a low of 0.81943 and is currently trading around 0.82502. Intraday bias appears to be bullish as long as the support 0.8180 holds.
Technical Analysis Points to Further Upside
The pair is trading below the 34-EMA and 55-EMA on the 4-hour chart indicates a minor down trend. The immediate resistance is at 0.8265 any break above targets 0.8300/0.8350/0.8380/0.8500.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8180, any violation below will drag the pair to 0.8135/0.8090/0.8000.
Bullish Indicators
CCI (50) - Bullish
Directional movement Index - Neutral
Trading Strategy Recommendation
It is good to buy on dips around 0.8230 with a stop-loss at 0.8180 for a TP of 0.8500.
