USDCHF Market Is Under Bulls’ Control

Price inclination is envisaged

USDCHF Price Analysis – 13 December

If the buying momentum can sustain over the $0.89 resistance level, the price can move above $0.90 and approach the $0.91 barrier levels. If sellers exert sufficient pressure, they can drive the price below $0.88 and into the $0.867 and $0.86 ranges

Key Levels:

Resistance levels: $0.89, $0.90, $0.91

Support levels: $0.88, $0.87, $0.86

USDCHF Long-term trend: Bullish

The USDCHF daily chart is trending upward. Customers benefited from the strong USDCHF market last week as the price broke out at $0.87. As of December 10, the USDCHF market was dominated by buyers. The price of the currency pair was $0.88 two days ago. Near the first suggested level, there was a bullish engulfing candle pattern. At that moment, the price rise towards $0.89. Two tests of the previously determined support level signaled the beginning of the bullish trend. At the moment, it is approaching the $0.89 threshold.

The USDCHF exchange rate is currently above the Hull Suite, indicating a bullish reversal impulse. Price increases are indicated by the forex signal QQE MOD, which is skewed above the zero line. If the buying momentum can sustain over the $0.89 resistance level, the price can move above $0.90 and approach the $0.91 barrier levels. If sellers exert sufficient pressure, they can drive the price below $0.88 and into the $0.867 and $0.86 ranges.

USDCHF Medium-term Trend: Bullish

It is clear that the medium-term outlook for the USDCHF is good. The currency pair had risen a few days earlier due to a bullish engulfing candle pattern close to the $0.86 barrier level. On December 12, the price successfully attempted to breach above $0.88 once more. The price is currently closer to $0.89.

When the currency pair trades above the Hull Suite signal, it is a sign of a bullish market. If the QQE MOD is more than zero, it is recommended to offer anything for salepurchase.

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