USDCHF Price Analysis – February 25
The USDCHF closed with small gains beneath 0.9800 level on the first day of the week and struggled Tuesday to climb past that point. During the decline of the Fx pair beneath the 0.9700 level, the start of the month around 0.9670 level and the bottom of the January month around 0.9613 level provided intermediate stops to 0.9600 level attempt.
Key Levels
Resistance Levels: 1.0231, 1.0027, 0.9845
Support Levels: 0.9743, 0.9613, 0.9541
USDCHF Long term Trend: Ranging
During the pre-European session on Tuesday, USDCHF registers fewer movements when trading at about 0.9790 level. The daily chart forms a bearish candlestick pattern but may contain further declines with ranging from RSI to 13 moving average.
In the long term, the trend stays neutral as USDCHF is moving in a sideway trading started from 1.0231 (high). A plunge from the level at 1.0231 is a leg within the trend and could aim 0.9541 (low) level. In case of another advance, the break of 1.0231 level is required to indicate uptrend resumption.
USDCHF Short term Trend: Bullish
USDCHF intraday bias remains neutral, as range trading remains beneath the temporary high of 0.9845 level. A continuous increase is favorable, while the support level of 0.9743 stays unchanged, with attention at the levels of 0.9845 on the recovery of the price from 1.0231 to 0.9613 levels.
On the other hand, a steady breakthrough of the 0.9851 level, which is part of the short-term bullish reversal scenario, may lead to a partial pullback at the next level of 0.9999. On the other hand, a break of 0.9743 may indicate a deviation of 0.9845 level and support short-term bearish dynamics.
Instrument: USDCHF
Order: Buy
Entry price: 0.9774
Stop: 0.9743
Target: 0.9845
Note: Learn2Trade.com 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
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