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Dollar Rally Lifts USD/CHF Above 0.8000 – Bulls Target 0.8090


USDCHF gained above 0.8000 on board-based US dollar buying. It hits an intraday high of 0.80168 and is currently trading around 0.080126.

Technical Analysis Points to Further Upside


The pair is trading above the   55-EMA, below the 200 EMA, and 365 EMA on the 1-hour chart, indicating a bullish trend. The immediate resistance is at  0.8030, any break above targets 0.8065/0.8090/0.8140/0.8180/0.8250/0.8300.

Support Levels and Potential Declines

On the downside, near-term support is around 0.7980; any violation below will drag the pair to 0.7920/0.7860/0.7800.

Indicators (15 min chart)

CCI (50) - Bullish

Directional Movement Index -  Bullish

Trading Strategy Recommendation

It is good to buy on dips around 0.7990 with a stop-loss at 0.7950 for a TP of 0.8090.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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