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USD/CHF Technical Analysis: Bullish Bias Above 0.8180, Eyes 0.8500 Target

USDCHF pared some of its gains on board-based US dollar selling. It hit a low of 0.81943 and is currently trading around 0.82502. Intraday bias appears to be bullish as long as the support 0.8180 holds. 

Technical Analysis Points to Further Upside

The pair is trading below the 34-EMA and  55-EMA on the 4-hour chart  indicates a minor down trend. The immediate resistance is at 0.8265 any break above  targets 0.8300/0.8350/0.8380/0.8500.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8180, any violation below will drag the pair to 0.8135/0.8090/0.8000.

Bullish  Indicators

CCI (50) - Bullish
Directional movement Index -  Neutral

Trading Strategy Recommendation

It is good to buy on dips around 0.8230 with a stop-loss at 0.8180 for a TP of 0.8500.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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