USDCHF Deepen Declines Beneath 0.9050, Maintains Downward Trend

USDCHF Deepen Declines Beneath 0.9050, Maintains Downward Trend

USDCHF Price Analysis – August 3

Following last week’s decline, the USDCHF is deepening its downward bias on Tuesday. The currency pair is currently trading at 0.9030, down 0.28 percent on the day. The Swiss franc has maintained its safe-haven status despite market volatility. The Consumer Price Index (CPI) in Switzerland grew to 0.7 percent on an annual basis in July, up from 0.6 percent in June, according to figures released on Monday.

Key Levels
Resistance Levels: 0.9200, 0.9150.0.9100
Support Levels: 0.9000, 0.8950, 0.8900
USDCHF Long term Trend: Ranging
The USDCHF was hit by fresh selling at the start of the day at 0.9057, and it proceeded to fall due to broad-based USD weakening on risk sentiment. Markets may hint that the price will try a new low of 0.9000 before resuming its decline to 0.8950. A rebound from the downtrend channel’s upper border will be another indicator in favor of the downtrend’s continuation.

USDCHF resistance, on the other hand, is initially seen around 0.9050, then 0.9080 levels, with a break of which would expose the 0.9150 and 0.9200 levels, which are a measured higher objective and the MA 13 uptrend barrier at 0.9133. In the absence of a rebound, the trend may remain bearish.
USDCHF Short term Trend: Bearish
With the current trend, USDCHF’s intraday bias has shifted to bearish. Until minor 0.9080 resistance is attempted, a steady drop is desirable. A definitive break of the 0.9000 level, on the other hand, might accelerate a wider slump. A break above the minor barrier at 0.9080, on the other hand, might take the bias back up towards the 0.9150 resistance zone.

In the last week, the pair has made a bearish lower high and now looks set to challenge the June 11 low of 0.8926. The bearish move of moving averages 5 and 13 as well as reading below 30 on the Relative Strength Index supports the negative view.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

USDCHF Renews Intraday High With a Bid Bias Above Mid 0.9100

USDCHF Renews Intraday High With a Bid Bias Above Mid 0.9100

USDCHF Price Analysis – July 20

On Tuesday the USDCHF remains bid above the mid 0.9100 up 0.23 percent at 0.9195 intraday high. In the short term, the momentum indicators paint a positive picture for the pair. When measured by the US Dollar Index (DXY), the greenback continues to recover strengthening the overall structure of the pair.

Key Levels
Resiistance Levels: 0.9375, 0.9275, 0.9200
Support Levels: 0.9150, 0.9080, 0.9000
USDCHF Long term Trend: Ranging
The USDCHF is currently battling the upside hurdle at 0.9200, which has previously served as resistance. If the bulls claim that number, the road to the swing high of 0.9275 will open up. The surge is expected to pause the 0.9375 horizontal resistance zone as it climbs higher.

The ascending trendline establishes a base around the support region at 0.8933 on the downside, and the lower channel’s surface may attempt to balance any downside correction. However, as the USDCHF strengthens its position within the bullish comeback towards 0.9200, a negative correction in coming sessions is possible.
USDCHF Short term Trend: Ranging
The short-term risk in the USDCHF market appears to be seeking to retain its upside in the 4-hour time frame, but trend signs remain ambiguous for now, suggesting that any price strength could be fleeting. If the USDCHF bulls hold their ground above 0.9200, the 0.9275 level swing high should reappear on the charts.

Overall, the outlook for the pair remains constant, and the intraday bias is initially neutral. The trading range starting at 0.9185 is widening. In the event of a greater loss, the retracement of 0.9117 to 0.9221 levels at 0.9195 intraday high could contain the downside move and bring in a stronger rebound.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

USDCHF Falls Into Support Near 0.9170 As the DXY Weakens From Highs

USDCHF Falls Into Support Near 0.9170 As the DXY Weakens From Highs

USDCHF Price Analysis – July 8

In the early trading hours, the US dollar’s plunge halts the USDCHF advance around 0.9264. The pair trades with a downside price action plunging to as low as 0.9173. USDCHF is currently trading at 0.9178, down 0.85 percent on the day. Investors accepted the Fed’s dovish stance and lower US GDP data as DXY weakens from multi-month highs.

Key Levels
Resistance Levels: 0.9472, 0.9375, 0.9275
Support Levels: 0.9142, 0.9080, 0.9000
USDCHF Long term Trend: Ranging
The USDCHF pair retreated down on Thursday, as the market unwound the overbought condition, approaching the support at 0.9170, as seen on the daily chart. The pair has since moved into a relatively medium-term consolidation zone, but with daily RSI momentum still pointing lower, we expect bearish pressure to break the base again.

USDCHF resistance, on the other hand, is initially seen around 0.9240, then 0.9275 levels, with a break of which would expose the 0.9304 and 0.9375 levels, which are a measured higher objective and the uptrend barrier from April 2021 at 0.9472. In the absence of a rebound, the trend may remain bearish.
USDCHF Short term Trend: Ranging
With the current trend, USDCHF’s intraday bias has shifted to ranging. Until minor 0.9200 resistance is attempted, a steady drop is desirable. A definitive break of the 0.9142 level, on the other hand, might accelerate a wider slump. A break above the minor barrier at 0.9200, on the other hand, might take the bias back up towards the 0.9240 resistance zone.

On the downside, if the 0.9170 level is breached, the 61.8 percent estimate of 0.9275 to 0.9170 levels from 0.9472 at 0.9140 levels may be targeted. Marginal weakness is expected as long as the 0.9275 level persists, but the 0.9240 barrier is likely to stay. Only above the 0.9240 level is there a chance of gains toward the 0.9275 level.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

USD/CHF Amazing Sell-Off

USD/CHF Amazing Sell-Off

USD/CHF plunged today as the DXY registered an aggressive sell-off. The pair has reached strong resistance, so DXY’s drop signaled a potential correction on this pair.

The US Dollar Index has shown some overbought signs in the short term. Its bearish divergence signaled that it could slip lower again. It seems that the USD bulls were disappointed after the FOMC Meeting Minutes, or yesterday’s report was already included in the price action.

USD/CHF H4 Chart Technical Analysis!

Our position in USD/CHF is still open after closing ⅔. The pair has found resistance at the R1 (0.9266) and right above the 61.8% retracement level. The aggressive breakdown through the weekly pivot point (0.9213) signaled strong sellers and a potential downside continuation in the short term.

Technically, the next downside target is seen around the weekly S1 (0.9152) and at the ascending pitchfork’s lower median line (lml).

Conclusion!

USD/CHF has signaled potential exhaustion after failing to come back to reach and retest the ascending pitchfork’s upper median line (uml). DXY’s drop forced the pair to drop as well, we have a strong positive correlation between these two (currency pair/index).

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Olimpiu Tuns

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

USD/CHF Continuation Pattern To Be Confirmed!

USD/CHF Continuation Pattern To Be Confirmed!

USD/CHF drops right now as the DXY is trading in the red. Still, the decline could be only a temporary one. The price action has developed a potential upside continuation pattern. The rate has escaped from this pattern, but we still need confirmation before going long.

The USD could take the lead again if the US economic figures come in line with expectations. The Revised UoM Consumer Sentiment, Personal Income, and Personal Spending could boost the pair.

USD/CHF H4 Technical Analysis!

USD/CHF has slipped lower after failing to pass above the 50% retracement level. Failing to retest the broken downtrend could signal a new upside momentum.

Technically, it could move sideways in the short term before really developing a new swing higher. Potential strong growth could be activated by a bullish closure above the 50% retracement level.

Conclusion!

Staying above 0.9166 today’s low and making a new higher high, to close above 0.9200 could really validate an upside continuation!

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Olimpiu Tuns

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

USD/CHF Larger Retreat?

USD/CHF Larger Retreat?

USD/CHF is trading in the red on the H4 chart and it could drop deeper if the US data will disappoint later today. The pair drops as the DXY has resumed its temporary decline. The US Dollar Index moves down within a down channel.

The US is to release its Flash Manufacturing PMI and the Flash Services PMI later. Better than expected data could bring us a new upside momentum on USD/CHF. You should be careful around these publications as the volatility will be high.

Some poor US data could really force the pair to go down towards new lows. Personally, I really hope that we’ll have a good opportunity later today.

USD/CHF H4 Chart Technical Analysis!

USD/CHF failed to stabilize above the 50% retracement level signaling some selling pressure. The descending pitchfork’s median line (ml) is seen as a dynamic support. Dropping and stabilizing below it could signal a deeper drop.

I’ve drawn a Fibonacci retracement on the last swing higher. A valid breakdown below 23.6% could activate a further decline. The downside scenario could be invalidated by a bullish fly above the 50% retracement level.

Conclusion!

USD/CHF current retreat is natural after the last upwards movement. Dropping and closing under 0.9165 could signal a broader decline.

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Olimpiu Tuns

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

USDCHF Sustains Weaker Footing Above Mid 0.8900, After a Two-Day Rally

USDCHF Sustains Weaker Footing Above Mid 0.8900, After a Two-Day Rally

USDCHF Price Analysis – June 15

In lackluster trading during Tuesday’s European session, the USDCHF eases to 0.8965 low, down 0.10 percent intraday. The US Dollar Index (DXY), which measures the greenback, adds to the minor losses witnessed, as USDCHF slides back to the mid-0.8900 range on Tuesday, reflecting the sluggish market action.

Key Levels
Resistance Levels: 0.9129, 0.9053, 0.9000
Support Level: 0.8950, 0.8887, 0.8757
USDCHF Long term Trend: Ranging
The USDCHF was hit by fresh selling at the start of the day at 0.9002, and it proceeded to fall due to broad-based USD weakening on risk sentiment. With no sign of recovery, the price fell to an intraday low of 0.8965. Likewise, the fall from 0.9472 is considered as the third phase of the trend from 1.0027 in the larger context (high).

That is, the greater downtrend from 1.0027 may still be ongoing. The pair is now significantly below the sliding moving average 5 and 13, confirming medium-term bearishness. If the 0.8950 low is broken, the 61.8 percent estimate of 1.0237 to 0.8757 from 0.9471 at 0.8757 will be the next target.
USDCHF Short term Trend: Bearish
The USDCHF fell to a low of 0.8965. The current intraday bias is still bearish. In the event of a second recovery, the upside of the USDCHF could be limited by the 0.9000 support turned resistance level, signaling the start of a new downturn.

On the downside, a persistent break of the 0.8950 level might lead to the 61.8 percent estimate of 0.9902 to 0.9000 levels from 0.9200 to 0.8930 levels. Marginal weakness is expected as long as the 0.9000 level persists, but the 0.8950 level is likely to stay. Only over the 0.9000 level is there a chance of again towards the 0.9053 level.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

USDCHF Continues a Downward Trend As Risk Flows Dominate

USDCHF Continues a Downward Trend As Risk Flows Dominate

USDCHF Price Analysis – May 25

USDCHF pair is still on track for daily losses. It is currently trading at 0.8955, down 0.17 percent on the day. For the time being, the pair tends to rangebound at the moment. As risk flows dominate the markets, the US Dollar Index continues to fall. If the price falls below 0.8930, a further downside is expected.

Key Levels
Resistance Levels: 0.9200, 0.9100, 0.9000
Support Levels: 0.8900, 0.8800, 0.8700
USDCHF Long term Trend: Ranging
The pair has been consolidating near the 0.8950 marks on the daily chart, indicating the development of several bottoms. The pair is also in the same range as they were in late February. As a result, it is a critical stage for determining the pair’s price behavior.

If the price moves consistently below the session’s low of 0.8930, market participants can see substantial selling opportunities. The first stop for the bears will be at 0.8920, the low from February 9. It would pave the way for a further drop to the February 10 low of 0.8890.
USDCHF Short term Trend: Bearish
Despite a steep drop from its recent high of 0.9000, the USDCHF is still trading above the 0.8920 psychological support mark. However, the intraday bias remains on the downside. As long as the 0.8920 support level remains, another rise is possible.

At this time, the USDCHF intraday bias is already on the downside. The current drop from 0.9000 could lead to a test of the low of 0.8871. However, a breach of the 0.9000 resistance level would signal a short-term bottom. The intraday bias will be shifted back to the upside in anticipation of a stronger rebound.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

USDCHF Trades Beneath 0.9000 Level, Risk Aversion Boosts Franc

USDCHF Trades Beneath 0.9000 Level, Risk Aversion Boosts Franc

USDCHF Price Analysis – May 18

Early in the European session, the USDCHF pair slips beneath 0.8998 to multi-month lows, with sellers now looking to expand the downward trend below the 0.8950 low level. The decline was fueled solely by sustained US dollar sellers, as Investors’ risk aversion boosts demand for safe-haven Franc.

Key Levels
Resistance Levels: 0.9304, 0.9160, 0.9045
Support Levels: 0.8950, 0.8887, 0.8757
USDCHF Long term Trend: Bearish
The USDCHF was hit by fresh selling at the start of the day at 0.9034, and it proceeded to fall due to broad-based USD weakness on risk sentiment to an intraday low of 0.8965 at the time of this post. The present bias stays on the downside towards breaching the horizontal support at $0.8950.

In the event of a second rebound, the upside of the USDCHF may be limited by the 0.8998 support turned resistance level, signaling the start of a new decline. In any case, a break of 0.9000 marks is required to signal medium-term bottoming. Otherwise, the trend may stay bearish in case of a rebound.
USDCHF Short term Trend: Bearish
The USDCHF is now trapped beneath a temporary peak of 0.9034 and continues to fall. The initial intraday sentiment is bearish. If there is another turnaround, the 0.8998 former support level, which has now turned into a resistance level, signaling the start of a new decline, should limit upside potential.

On the downside, if the 0.8950 level is breached, the 61.8 percent projection of 0.9164 to 0.8998 levels from 0.9093 at 0.8950 levels could be targeted next. Marginal weakness is expected as long as the 0.8998 level persists, but the 0.8950 level is likely to hold. Just above the 0.8998 level is there a chance of a move towards the 0.9045 level.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

USDCHF Buyers Smash Through Daily Resistance of 0.9150 on Wide Range Strengthening of US Dollar

USDCHF Buyers Smash Through Daily Resistance of 0.9150 on Wide Range Strengthening of US Dollar

USDCHF Price Analysis – May 4

During the European session, the USDCHF brings the buyers’ interest to the test, with the possibility of a recovery from the downside pressure to crack the sellers’ grasp. As technicals reveal a dominant selling side, buyers smashed through the barrier at 0.9150. The dollar is being boosted by expectations of stronger economic growth in the United States.

Key Levels
Resistance Levels: 0.9472, 0.9300, 0.9160
Support Levels: 0.9080, 0.9045, 0.8998
USDCHF Long term Trend: Ranging
The US dollar remains bullish against the Swiss franc at the beginning of the week, as the pair’s intra-day correction finds buyers at 0.9110 level, up from 0.9104. In a broader sense, the drop from 0.9472 medium-term high is considered the 2nd pattern period since the plunge from a recent high of 0.9901.

For the time being, there is no sign that the range will be completed. In continuation, the next goal will be a 138.2 percent projection from 0.9901 to 0.8757 from 0.9472 at 0.9080 levels. A successful break of the 0.9200 resistance level, however, will be an early sign of trend reversal and a change of focus back to the 0.9300 key resistance level for confirmation.
USDCHF Short term Trend: Bearish
The short-term risk in the USDCHF market appears to be seeking to retain its downside in the 4-hour time frame, in addition, trend signals remain mixed for now, indicating that any price strength may be transitory.

Overall, the outlook for USDCHF remains unchanged, and the intraday bias is initially neutral. The trading range starting at 0.9472 is widening. In the event of a steeper fall, the 38.2 percent retracement of 0.9080 to 0.9160 levels at 0.9127 could absorb the downside step and usher in a stronger recovery.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.