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USDCHF: Will the Bull Run Continue? Key Levels to Watch

USDCHF breaks the previous week's high after a long consolidation due to broad-based US dollar buying. It hits an intraday high of 0.80717 and is currently trading around 0.080488.

Technical Analysis Points to Further Upside


The pair is trading above the   55-EMA,  200 EMA, and below the 365 EMA on the 4-hour chart, indicating a mixed trend. The immediate resistance is at  0.8090, any break above targets 0.8135/0.8170/0.8215/0.8250.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8028; any violation below will drag the pair to 0.7980/0.7920/0.7860/0.7800.

Indicators (4-hour chart)

CCI (50) - Bullish

Directional Movement Index -  Bullish

Trading Strategy Recommendation

It is good to buy on dips around 0.8030 with a stop-loss at 0.7998 for a TP of 0.8090/0.8130.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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