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USDCHF on Fire: 10-Day Dollar Rampage Eyes 0.8218 Breakout – Bulls in Full Control

USDCHF has traded strongly for the past 10 days on board-based US dollar buying. Currently trading at 0.80720, it reached an intraday high of 0.81020. 

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  0.81050; any break above targets  0.8150/0.82180.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8050; any violation below will drag the pair to 0.8020/0.8000/0.7965/ 0.7920/0.7865/0.7800.

Indicators (4-hour chart)

CCI (50) - Bullish

Directional Movement Index -  Bullish

Trading Strategy Recommendation

It is good to buy on dips around 0.8050 with SL around 0.8000 for a TP of 0.8150/0.8218.

 

 

 

 

 

 

 

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