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USDCHF Trapped in Tight Range – Bears Load Up: Break Below 0.8020 to Unleash Rapid Crash Toward 0.7800

USDCHF has traded in a narrow range between 0.8102 and 0.79961 for the past four days. Currently trading at 0.80461, it reached an intraday high of 0.80530.

Technical Analysis Points to Further Bullishness

The pair is trading above the 55-EMA, the 200-EMA, and the 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at  0.80580; any break above targets  0.8105/0.8150/0.82180.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8020; any violation below will drag the pair to 0.800/0.7965/ 0.7920/0.7865/0.7800.

Indicators (4-hour chart)

CCI (50) - Bearish

Directional Movement Index -  Neutral

Trading Strategy Recommendation

It is good to sell on rallies around 0.8048-50 with SL around 0.8090 for a TP of 0.7965.

 

 

 

 

 

 

 

 

 

 

 

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