USDCHF pared some of its gains as US dollar loses momentum. Having made an intraday high of 0.80732, it is currently trading at 0.80540.
Technical Analysis Points to Further Bearishness
The pair is trading below the 55-EMA, above the 200-EMA, and 365-EMA on the 4-hour chart, indicating a mixed trend. The immediate resistance is at 0.8090; any break above targets 0.8150/0.8200.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8040; any violation below will drag the pair to 0.8000/0.7965/ 0.7925/0.7865/0.7800/0.7765/0.7000/0.7660/0.7628.
Indicators (4-hour chart)
CCI (50) - Bearish
Directional Movement Index - neutral
Trading Strategy Recommendation
It is good to sell on rallies around 0.8068-70 with SL around 0.8150 for a TP of 0.7960.


FxWirePro: NZD/USD slips ahead of widely expected RBNZ rate hike
FxWirePro- Major Crypto levels and bias summary
FxWirePro: AUD/USD slips following softer TD-MI inflation gauge
FxWirePro: USD/CAD consolidating around 1.4200 room for further gains
GBPJPY at Resistance: Sell Rallies Near 215.18 as Downtrend Beckons
FxWirePro- Major Crypto levels and bias summary
FxWirePro: AUD/USD rallies as traders scale back Fed rate hike bets
USDCHF Faces Downside Risk as Resistance Holds; Sell Rallies Recommended
FxWirePro- Woodies pivot (Major)
NZDJPY Poised for Downtrend as Resistance Holds Firm
FxWirePro: USD/CNY extends drop, faces 23.6%fib support
FxWirePro USD/JPY rises as dip buyers offset intervention fears
FxWirePro- Major Pair levels and bias summary
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/AUD uptrend loses steam, remains on bullish path 



