USDCHF trades above 0.8000 on board-based US dollar buying.. Currently trading at 0.80082, it reached a peak of 0.80188. Watch out for 0.8020 for further upside.
Technical Analysis Points to Further Bullishness
The pair is trading above the 55-EMA, the 200 EMA, and above the 365 EMA on the 4-hour chart, indicating a mixed trend. The immediate resistance is at 0.8020; any break above targets 0.8070/0.8090/0.8135/0.8170/0.8215/0.8250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7960; any violation below will drag the pair to 0.7920/0.7900/0.7860/0.7800.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.7990 with SL around 0.7960 for a TP of 0.8065.
