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FxWirePro- USD/CHF Holds Above 0.8120 as Bulls Target 0.8200

USDCHF gained above 0.8120 on board-based US dollar buying. Having made an intraday high of 0.81286, it is currently trading at 0.81243.

Technical Analysis Points to Further Bullishness

The pair is trading above the 55-EMA, above the 200-EMA, and above the 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at 0.81150; any break above targets 0.8150/0.8200/0.8225/0.8250.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8070; any violation below will drag the pair to 0.8030/0.800/0.7965/ 0.7925/0.7865/0.7800/0.7765.

Indicators (4-hour chart)

CCI (50) - Bullish

Directional Movement Index -  Neutral

Trading Strategy Recommendation

It is good to buy on dips around 0.8070 with SL around 0.8030 for a TP of  0.8148/0.8180.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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