USDCHF breaks significant resistance 0.8090 on board-based US dollar buying. It hits an intraday high of 0.81058 and is currently trading around 0.081003.
Technical Analysis Points to Further Upside
The pair is trading above the 55-EMA, 200 EMA and below 365 EMA on the 4-hour chart, indicating a mixed trend. The immediate resistance is at 0.8135, any break above targets 0.8170/0.8215/0.8250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8060; any violation below will drag the pair to 0.8020/0.7980/0.7920/0.7860/0.7800.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.8090 with a stop-loss at 0.8058 for a TP of 0.8170/0.8215.
Technical Analysis Points to Further Upside
The pair is trading above the 55-EMA, 200 EMA and below 365 EMA on the 4-hour chart, indicating a mixed trend. The immediate resistance is at 0.8135, any break above targets 0.8170/0.8215/0.8250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8060; any violation below will drag the pair to 0.8020/0.7980/0.7920/0.7860/0.7800.
Indicators (4-hour chart)
CCI (50) - Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around 0.8090 with a stop-loss at 0.8058 for a TP of 0.8170/0.8215.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.