USDCHF Bounces off Lows Around 0.9200 Regions Amid US Inflation Figures

Service for copy trading. Our Algo automatically opens and closes trades.

The L2T Algo provides highly profitable signals with minimal risk.

24/7 cryptocurrency trading. While you sleep, we trade.

10 minute setup with substantial advantages. The manual is provided with the purchase.

79% Success rate. Our outcomes will excite you.

Up to 70 trades per month. There are more than 5 pairs available.

Monthly subscriptions begin at £58.

L2T Algo

TELEGRAM

RESULTS

USDCHF Price Analysis – April 13

After plunging for 5 consecutive days, the USDCHF pair bounces off lows around 0.9200 early on Tuesday’s European/American session. The pair’s rebound is up around 0.9259 intraday high and at the time of this post was hovering around the 0.9213 level. The US dollar is in a cautious mode as traders react to inflation data which would dictate the next movement.

Key Levels
Resistance Levels: 0.9472, 0.9375, 0.9300
Support Levels: 0.9213, 0.9150, 0.9093
USDCHF Long term Trend: Ranging
The US dollar’s attempt to strengthen against the Swiss franc has gained traction at the recent low of 0.9213 level, with the pair gaining almost 31 pips after finding support around the 0.9200 prior days low level. The USDCHF pair needs to break the 0.9300 resistance level to balance the overall forecast. Medium to long term analysis continues to suggest that USDCHF downside bias is over around the ascending trendline support and its rebound will continue higher.

In a broader context, the decline from 1.0231 is seen as the concluding phase of the trend from 1.0342 (high). There are no clear signs of confinement. The next target is 138.2% forecast from 1.0342 to 0.9187 from 1.0231 at 0.9300. In such a scenario, a break of the 0.9304 resistance level is required to signal a mid-term session.
USDCHF Short term Trend: Ranging
With slight resistance at 0.9300 intact, the correction from 0.9472 could continue lower. However, the 38.2 percent retracement of 0.8756 to 0.9472 at 0.9213 should limit the downside and allow for recovery. On the upside, a break above 0.9300 would shift the bias to the upside, allowing for a return to the 0.9472 high.

However, a sustained break of 0.9213 would result in a more significant drop to the 61.8 percent retracement level of 0.9045. If the pair manages to break resistance levels and surge higher, it would immediately face the resistance of the horizontal line at 0.9375 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