USDCHF trades flat as market eyes US-China trade talks. It hit a high of 0.82260 at the time of writing and is currently trading around 0.82119. Intraday bias appears to be bearish as long as the resistance 0.8250 holds.
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.
