USDCHF holds above the 0.8100 level on board-based US dollar buying. Currently trading at 0.81002, it reached an intraday high of 0.81164.
Technical Analysis Points to Further Bullishness
The pair is trading above 55-EMA, the 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 0.8180/0.8215/0.8250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.80650; any violation below will drag the pair to 0.8020/0.7965/0.7900/0.7860/0.7800.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Neutral
Trading Strategy Recommendation
It is good to buy on dips around 0.80650-670 with SL around 0.8020 for a TP of 0.8150/0.8175.
