USDCHF lost its shine as demand for safe-haven assets Swiss franc, increases.It hits an intraday high of 0.79434 and is currently trading around 0.79378. Intraday bias appears to be bearish as long as resistance 0.8000 holds.
Technical Analysis Points to Further Downside
The pair is trading below the 55-EMA, below the 200 EMA, and 365 EMA on the 4-hour chart, indicating a bearish trend. The immediate resistance is at 0.7950; any break above targets 0.8000/0.8050/0.8090/0.8140/0.8180/0.8250/0.8300.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7900, any violation below will drag the pair to 0.7860/0.7800.
Indicators (1- hour chart)
CCI (50) - Bearish
Directional movement Index - neutral
Trading Strategy Recommendation
It is good to sell on rallies around 0.7950 with a stop-loss at 0.8000 for a TP of 0.7855.


FxWirePro: GBP/NZD continues to recovers , upside pressure builds
FxWirePro:NZD/USD edges lower, bearish outlook persists
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
FxWirePro- Major European Indices
FxWirePro- Woodies Pivot(Major)
AUDJPY Stalls in Neutral Ground: Bearish Shadows Loom Over the 111.00 Mark
FxWirePro: EUR/ NZD stuck in range but maintains bullish bias
FxWirePro: USD/ZAR uptrend loses steam, remains on bullish path
Sterling’s Steady Ascent: GBPJPY Tests the 213.31 Resistance Amid a Two-Week Consolidation
FxWirePro: GBP/USD drifts lower , could be on verge of bigger drop
Ethereum’s $2,200 Ceiling: Can Diplomatic Breakthroughs Dissolve the Bearish Resistance?
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/CAD remains buoyant, looks to extend gains
FxWirePro: EUR/AUD neutral in the near-term, scope for downward resumption
FxWirePro: AUD/USD downside pressure builds, key support level in focus 



