USDCHF trades flat ahead of trade talks with US-China. It hits a high of 0.82408 and is currently trading around 0.82086.. Intraday bias appears to be bearish as long as the resistance 0.8250 holds.
On the second day of high-level trade negotiations in London, the United States and China are aiming to ease longstanding trade tensions and extend the temporary agreement that was signed on Tuesday in Geneva. US delegates led by Commerce Secretary Howard Lutnick, Treasury Secreior Scott Bessent, and Trade Representative Jamieson Greer, along with Chinese representatives led off by Vice Premier He Lifeng and Commerce Minister Wang Wentao, are in attendance at Lancaster House for the talks.
Technical Analysis Points to Further Upside
The pair is trading below the 55-EMA, below 200 EMA and 365 EMA on the 4-hour chart indicating a mixed trend. The immediate resistance is at 0.8250 any break above targets 0.8300/0.8345/0.8375/0.8435/0.8480.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8150, any violation below will drag the pair to 0.8135/0.8090/0.8000.
Indicators (4-Hour)
CCI (50) - Bearish
Directional movement Index - Bearish
Trading Strategy Recommendation
It is good to sell on rallies around 0.8218-220 with a stop-loss at 0.82500 for a TP of 0.8090.
