USDCHF Price Declines to Test $0.917 Level, Reversal Envisaged

Updated:

USDCHF Price Analysis – February 18

An increase in the Bears’ momentum will decrease the USDCHF price which may break down the support level at $0.917, then, 0.909 levels may be reached and it may decline to $0.903 level. Should the bulls break up the resistance level of $0.922, then, $0.923 and $0.931 level may be tested.

USDCHF Market

Key Levels:

Resistance levels: $0.922 $0.923, $0.931

Support levels: $0.917, $0.909, $0.903

USDCHF Long-term trend: Bearish

USDCHF is bearish on the long-term outlook. The bulls were controlling the activities in the USDCHF market last week. The price increased to $0.923 resistance level. The bears opposed the bullish movement at the resistance level of $0.923. The currency pair is currently bearish, heading towards the support level of $0.917.

The currency pair is trading below the two EMAs. The 9 periods EMA is bending towards the 21 periods EMA which indicate that bears are in charge of the market. The Relative Strength Index period 14 is below 48 levels bending down to indicate sell signal. An increase in the Bears’ momentum will decrease the USDCHF price which may break down the support level at $0.917, then, 0.909 levels may be reached and it may decline to $0.903 level. Should the bulls break up the resistance level of $0.922, then, $0.923 and $0.931 level may be tested.

USDCHF Medium-term Trend: Bearish

USDCHF is bearish in the medium-term outlook. The currency pair was ranging last week within the resistance level of $0.927 and $0.922. The scenario commenced when the bulls’ momentum could not break up the resistance level of $0.927. The currency pair continue to engage in a ranging movement within $0.922 and $0.927 until February 16. The bears gained more pressure and breaks down the $0.922 level.

The 9 period EMA is below the 21 periods EMA, USDCHF is trading below the two EMA. Meanwhile, the Relative Strength Index period 14 is at 41 levels with signal line pointing down indicating a sell signal.

  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • 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.

  • 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
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.