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USDCHF Teeters on Edge: Bullish Signals Clash with Downside Risks

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.

 

 

 

 

 

 

 

 

 

 

 

 

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