USDCHF lost its shine on board-based US dollar selling. Currently trading at 0.79047, it reached a intraday low of 0.79013.
Technical Analysis Points to Further Bullishness
The pair is trading below 55-EMA, the 200 EMA, and above 365 EMA on the 4-hour chart, indicating a mixed trend. The immediate resistance is at 0.7965; any break above targets 0.8000/0.8020/0.8070/0.8100/0.8150.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7900; any violation below will drag the pair to 0.7865/0.7800.
Indicators (4-hour chart)
CCI (50) - Bearish
Directional Movement Index - Bearish
Trading Strategy Recommendation
It is good to sell on rallies around 0.7965-70 with SL around 0.8018 for a TP of 0.7800.
