USDCHF Downside Pressure Confined Beyond 0.9440 Level

USDCHF Downside Pressure Confined Beyond 0.9440 Level

USDCHF Price Analysis – June 26

USDCHF loosens to 0.9472 level, while still down 0.11 percent on a day, the pair may re-attempt the 0.9550 level after the pair’s initial downside pressure in the prior session was confined.

Key Levels
Resistance Levels: 1.0027, 0.9766, 0.9550
Support Levels: 0.9440, 0.9370, 0.9181
USDCHF Long term Trend: Ranging
The pair registered a bearish pattern after initiating a retraction from the recent low reached at Wednesday’s horizontal support level of 0.9440. The sellers thus seek a follow – up to the initial support line around 0.9440 level, with 0.9500 serving as initial resistance.

Even so, any more downside past-0.9440 level may test 0.9400 round-number before propelling the bears to the close 0.9370 (low) level. Similarly, a precise breach beyond Thursday’s high past 0.9508 level may attempt for subsequent resistance levels of 0.9550 and 0.9600.
USDCHF Short term Trend: Bearish
USDCHF has recovered a bit and weakens the short-term downside trend, limiting initial downside pressure and enabling for a potential re-test of the initial high level of 0.9550. It may have to be cleared up if another downside pressure is to be fully confined and the short-term uptrend at 0.9669 level is enabling towards rebound.

Though confined by the downtrend, a negative outlook may continue and the downside goal may stay at the level of 0.9370 (low) and the retraction of 78.6 percent at 0.9242 level, which is the last support for low of March at 0.9182 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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Share with other traders!