USDCHF Price: A Bullish Breakout at $0.87 Level, Targeting $0.89 Level
Login

USDCHF Price: A Bullish Breakout at $0.87 Level, Targeting $0.89 Level

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

Buyers are in control of USDCHF market

USDCHF Price Analysis – 18 August

USDCHF may rise past the $0.88 resistance level and toward the $0.89 and $0.90 resistance levels if buyers’ momentum is effective in holding the $0.87 support level. The $0.87 barrier level can be broken if sellers exert enough pressure, leading the price to drop much lower into the $0.86 and $0.85 levels.

USDCHF Market

Key Levels:

Resistance levels: $0.88, $0.89, $0.90

Support levels: $0.87, $0.86, $0.85

USDCHF Long-term trend: Bullish

USDCHF is bullish on the daily chart. Over the past month, sellers dominated the USDCHF market. The previous support level of $0.87 was broken by the price. On July 13, the price was subjected to further seller pressure, and it twice tested the $0.85 level. A double-bottom chart pattern appeared, which led to a bullish movement. The $0.86 resistance level was broken over the previous two weeks. USDCHF is having trouble getting above the $0.88 barrier.

The USD/CHF price is currently rising above the 9- and 21-period EMAs, which shows that buyers’ momentum is gaining strength. A bullish market is indicated by the Relative Strength Index period 14 at 57 levels. The price may rise past the $0.88 resistance level and toward the $0.89 and $0.90 resistance levels if buyers’ momentum is effective in holding the $0.87 support level. The $0.87 barrier level can be broken if sellers exert enough pressure, leading the price to drop much lower into the $0.86 and $0.85 levels.

USDCHF Medium-term Trend: Bullish

USDCHF is on a bullish movement in the medium-term outlook. The double bottom chart pattern formed at the support level of $0.85 triggered a bullish movement. The market produces bullish candles. The former resistance level of $0.87 currency pair has turned to a support level. The resistance level of $0.88 has been broken upside. The price could rise above $0.88 level.

The currency pair is trading above the 9-period EMA and the 21-period EMA as a sign of bullish market. The Relative Strength Index period 14 is at 56 with its signal line pointing up to indicate buy.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News