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USDCHF Under Pressure: Bearish Signals Hint at Deeper Pullbacks

USDCHF lost its shine on board-based US dollar selling. Currently trading at 0.79047, it reached a intraday low of 0.79013. 

Technical Analysis Points to Further Bullishness

The pair is trading below 55-EMA, the 200 EMA, and above 365 EMA on the 4-hour chart, indicating a mixed trend. The immediate resistance is at  0.7965; any break above targets  0.8000/0.8020/0.8070/0.8100/0.8150.

Support Levels and Potential Declines

On the downside, near-term support is around 0.7900; any violation below will drag the pair to 0.7865/0.7800.

Indicators (4-hour chart)

CCI (50) - Bearish

Directional Movement Index -  Bearish

Trading Strategy Recommendation

It is good to sell on rallies around 0.7965-70 with SL around 0.8018 for a TP of 0.7800.

 

 

 

 

 

 

 

 

 

 

 

 

 

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