Is It Time to Buy USDCHF on Dips After the Four-Month High?

USDCHF reached a four-month high

On Wednesday, USDCHF rose for the 6^th straight trading day. At one point, it broke above the 0.836 mark and reached a four-month high.

The USDX was prone to fluctuation and climbed

On Wednesday, boosted by hawkish statements made by officials at the Fed, the USDX jumped. It ended up 0.08% at 101.47.

Swiss ZEW investors confidence index fell in September

Swiss Investors Confidence Index decreased from 12.1 to 2.6, according to the data from the ZEW.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, USDCHF continued rising. The bullish market trend prevailed in the short term. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that USDCHF will jump further. Investors should focus on whether USDCHF will break through the resistance at 0.840. It will climb with potential resistance at 0.845 if it breaks above 0.840.

4-hour chart

On the 4-hour chart, USDCHF was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether USDCHF will break through the support at 0.832. It will rise if it retreats but is stable above 0.832.

Key resistance: 0.840,0.845

Key support: 0.832,0.828

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as USDCHF retreats during the day.