USDCHF Price close to $0.90
USDCHF Price Analysis – 20 December
USDCHF can rise above $0.91 and get closer to the $0.92 barrier levels if the purchasing momentum can hold above the $0.90 resistance level. Sellers can push the price below $0.89 and into the $0.88 and $0.87 areas if they apply enough pressure.
Key Levels:
Resistance levels: $0.90, $0.91, $0.92
Support levels: $0.89, $0.88, $0.87
USDCHF Long-term trend: Bullish
The daily USDCHF chart is showing an upward trend. Last two weeks, when the price broke out at $0.87, customers profited from the robust USDCHF market. Buyers controlled the USDCHF market as of December 10. Two days ago, the currency pair was worth $0.88. There was a bullish engulfing candle pattern close to the first recommended level. The price then started to increase toward $0.89. Two tests of the previously determined support level signaled the beginning of the bullish trend. It is currently getting close to the $0.90 mark.
A positive reversal impulse is indicated by the USDCHF exchange rate’s present position above the Hull Suite. The forex signal QQE MOD, which is skewed above the zero line, indicates price increases. The price can rise above $0.91 and get closer to the $0.92 barrier levels if the purchasing momentum can hold above the $0.90 resistance level. Sellers can push the price below $0.89 and into the $0.88 and $0.87 areas if they apply enough pressure.
USDCHF Medium-term Trend: Bullish
It is evident that the USDCHF has a promising medium-term outlook. A bullish engulfing candle pattern near the $0.86 barrier level had caused the currency pair to surge a few days prior. The price made another successful effort to break above $0.88 on December 12. Right now, the price is closer to $0.90.
A bullish market is indicated when the currency pair trades above the Hull Suite signal. It is advised to offer anything for sale or purchase if the QQE MOD is more than zero.
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