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FxWirePro-USD/CHF Technical Outlook: Buying the Dips Near 0.8320 as Dollar Rally Extends

USDCHF trades higher for the fourth consecutive week on board- based US dollar buying. Having made an intraday high of  0.83830, it is currently trading at 0.83568.

 

Technical Analysis Points to Further Bullishness

The pair is trading above the 55-EMA, above 200-EMA, and 365-EMA on the 4-hour chart, indicating a bullish trend. The immediate resistance is at 0.8400; any break above targets 0.8465/0.8500.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8320; any violation below will drag the pair to 0.8280/0.8220/0.8180.

Indicators (4-hour chart)

CCI (50) - Bullish

Directional Movement Index -  Bullish

Trading Strategy Recommendation

It is good to buy on dips around 0.8320 with SL around 0.8280 for a TP of  0.8465.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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