USDCHF showed a minor pullback as US dollar index recovered slightly. It hits an low of 0.82096 and is currently trading around 0.82566. Intraday bias appears to be bearish as long as the resistance 0.8405 holds.
Technical Analysis Points to Further Upside
The pair is trading below the 55-EMA, 200 EMA and 365 EMA on the 1-hour chart indicates a bearish trend. The immediate resistance is at 0.8272 any break above targets 0.8300/0.8350/0.8375.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8200, any violation below will drag the pair to 0.8180/0.8135/0.8090/0.8000.
Bullish Indicators
CCI (50) - Bearish
Directional movement Index - Bearish
Trading Strategy Recommendation
It is good to sell on rallies around 0.8270 with a stop-loss at 0.83250 for a TP of 0.8150.
