USDCH trades flat ahead of US major economic data. It hits an intraday high of 0.82645 and is currently trading around 0.82508. Intraday bias appears to be bullish as long as the support 0.8180 holds.
The Conference Board Consumer Confidence Index fell sharply in April 2025, reaching its lowest level in 5 years and its fifth straight month of falling. Statistics tallied through April 21 show that rising tariff fears, recession anxiety, and a worsening labor market drove this steep fall in consumer confidence.
Technical Analysis Points to Further Upside
The pair is trading below the 34-EMA and 55-EMA on the 4-hour chart indicating a minor downtrend. 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.
