USDCHF Price Analysis – October 12
The USDCHF pair recovered an intraday slide to 0.9257 and was last seen lingering past the 0.9300 level, at the high end of its daily trading range. The safe-haven Swiss franc was impacted by a relatively good comeback in US equities futures, which was considered as a crucial element that functioned as a support for the USDCHF pair.
Key Levels
Resistance Levels: 0.9547, 0.9472, 0.9375
Support Levels: 0.9250, 0.9200, 0.9150
USDCHF Long term Term: Ranging
From a technical standpoint, the USDCHF pair broke through critical horizontal support near 0.9275 the day before. The consolidating conditions, on the other hand, may assist limit the drop, at least for the time being, above the 0.9300 level. The pair’s rebound could be extended towards the 0.9332 level.
On the other side, if the USDCHF sustains its push above the 0.9300 level, the current bullish trend may continue, with an eye on the higher horizontal resistance level at 0.9375. In the meantime, any attempt to return to the moving average 5 and 13 breakpoints at 0.9290 could be viewed as a selling opportunity.
USDCHF Short term Trend: Ranging
The intraday tendency in USDCHF remains on the upswing for the initial 0.9332 barrier level. The projected 0.9375 resistance level for validation may easily be the key breach here, as an early indication of bullish reversal.
On the downside, at a low level of 0.9275, the downside is now preferred beneath the 0.9250 minor support level. After trading over 0.9275, the US dollar has taken on a near-term bid tone after hitting levels above 0.9300. The pair may continue the uptrend into the next session.
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
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