USDCHF Rebounds Around 0.8900 Level As Upbeat Market Mood Caps CHF


USDCHF Price Analysis – February 12

After easing to 0.8892 lows at the prior session, the USDCHF pair rebounds around the 0.8900 zones during Friday’s European session with market action turning upwards. Meanwhile, the upbeat market mood helps USDCHF limit its downside despite the USD’s weakness.

Key Levels
Resistance Levels: 0.9093, 0.9045, 0.8998
Support Levels: 0.8900, 0.8858, 0.8822
USDCHF Long term Trend: Ranging
USDCHF rebounds from 0.8897 level while adding to recovery moves ahead of the American session on Friday. Even so, the quote remains inside the range established since Wednesday. While strong RSI conditions favor the quote’s latest bounce off horizontal support at 0.8900, the recovery moves will have a bumpy road considering the barrier of moving average 13 at 0.8950.

Hence, USDCHF buyers may remain worried unless breaking the immediate resistance line, at 0.8920 level, following that the 0.8998 and the 0.9045 levels may limit its further ascent. It should also be noted that the pair’s continuous run-up past-0.9000 threshold needs to cross the monthly high of 0.9045 level to restore the bulls’ conviction.
USDCHF Short term Trend: Ranging
USDCHF is still holding below the temporary high of 0.9045 level, despite today’s rebound. Intraday bias stays primarily neutral. If the rebound continues to the upside, the bullish potential could be capped by the 0.8998 zones, leading to a fresh decline.

On the other hand, a breakout of 0.8998 level could launch a larger uptrend with a 61.8% forecast from 0.8757 to 0.8998 from 0.8822 at 0.9045 levels next. However, the resistance cluster formed around 0.9045 could limit the USDCHF exchange rate in the short term.

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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • 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
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.