USDCHF Turns Flat After a Rebound at 0.9124 Level as US Dollar Index Stays in Negative Territory
Login

USDCHF Turns Flat After a Rebound at 0.9124 Level as US Dollar Index Stays in Negative Territory

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

USDCHF Price Analysis – November 24

The USDCHF has bounced up strongly from lows at 0.9124 level during the early US session, to register an intraday high at 0.9136 level. On the other hand, the US Dollar Index (DXY) failed to preserve its upward bias and stays in Negative territory.

Key Levels
Resistance Levels: 0.9362, 0.9241, 0.9191
Support Levels: 0.9100, 0.8982, 0.8639
USDCHF Long-term Trend: Bearish
From a technical point of view, the pair has recently reversed from 0.8982 seen on the daily chart, however, this has not overcome significant resistance and is fluctuating. The recent low at 0.9100 protects layers of lower supports. A dip at 0.9100 is needed to introduce volume to the recent lows of 0.8998/8982.

In a broader context, the decline from 1.0231 is seen as the third phase of the trend from 1.0342 (high). There are no clear signs of completion yet. However, a strong breakout of the 0.9296 resistance level would be an early sign of a trend reversal and would draw attention to the key 0.9902 resistance level to test.
USDCHF Short term Trend: Ranging
In the short term, USDCHF recovered strongly after falling to the 0.9076 level. The intraday bias of the pair has shifted back up towards the 0.9191 resistance level. A decisive break would be the first sign of a bullish reversal and lead to sustained gains towards the 0.9296 resistance level to test.

On the other hand, the breakout of the immediate support at 0.9076 could be the target of the 0.8982 low tests. The initial support is at 0.8998. Below there is support at 0.8900 and then 0.8850. Its 4-hour RSI is hovering and pointing higher, suggesting further recovery.

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
  • 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