FX.co ★ Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Tuesday August 01,2023.

From the 4-hour chart of the main USD/CHF currency pair, it can be seen that the price movement is moving above its Moving Average and the CCI indicator managed to penetrate above its three main levels (100.0, & 100) and is now in the 0-100 level range, this means momentum going up above it is still quite good so that in the near future USD/CHF will try to test the 0.8791 level, but it should be noted that the CCI indicator also gives an indication of potential weakness through the appearance of deviations between price movements and the CCI indicator so that if on its way up it suddenly prices move down down and breaks below the level 0.8612 then the bullish scenario described earlier will become invalid and cancel automatically.

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