USDCHF pared some of its gains on board-based US dollar selling. Currently trading at 0.79340, it reached a low of 0.79313.
Technical Analysis Points to Further Bearishness
The pair is trading below 55-EMA, the 200 EMA, and 365 EMA on the 4-hour chart, indicating a bearish trend. The immediate resistance is at 0.800; any break above targets 0.8020/0.8070/0.8090/0.8135/0.8170/0.8215/0.8250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7900; any violation below will drag the pair to 0.7860/0.7800.
Indicators (4-hour chart)
CCI (50) - Bearish
Directional Movement Index - Bearish
Trading Strategy Recommendation
It is good to sell on rallies around 0.7958-60 with SL around 0.8000 for a TP of 0.7865.


AUDJPY Surges to One-Month High on Australian Dollar Strength
AUD/JPY Faces Downside Pressure Amidst Australian Dollar Weakness
Bitcoin Dips Before the Flip: Whales Load Up $3B as $80K Rebound Looms
FxWirePro: USD/CAD rises above 1.3900 level after Warsh's Jackson hole speech
FxWirePro- Major Crypto levels and bias summary
EURUSD Trades Flat Amidst NFP Revision and Jackson Hole Ahead; Technicals Suggest Buying Opportunity
FxWirePro: USD/JPY trades flat ahead of Warsh's policy signals
FxWirePro: USD/JPY dips as Yen firms on BOJ rate-hike bets
FxWirePro- Woodies Pivot (Major)
FxWirePro- Woodies Pivot (Major)
FxWirePro: USD/CNY hovers around 3-1/2 years low, Outlook bearish
FxWirePro- Major Pair Currency Score (AUDUSD Bullish)
FxWirePro: GBP/USD slips lower as dollar firms after Warsh comments
NZDJPY Holds 95 Amidst Buying Pressure, Technicals Point to Potential Downtrend
NZDJPY Faces Downward Pressure as 95.40 Resistance Holds Firm
FxWirePro: GBP/USD cedes early gains ,outlook bearish 



