USDCHF Price: Bears May Break Through $0.89 Level

USDCHF market is dominated by buyers

USDCHF Price Analysis – 21 February

If the purchasing momentum can sustain over the $0.90 resistance position, USDCHF can rise above $0.91 and approach the $0.92 hedge levels. Merchandisers can, however, drop the price below $0.87 if they apply enough pressure to move it from the $0.89 to the $0.88 area.

Key Levels:

Resistance levels: $0.90, $0.91, $0.92

Support levels: $0.89, $0.88, $0.87

USDCHF Long-term trend: Bearish

The USDCHF chart has been trending upward over the past week. Clients have profited from the strong USDCHF market since the price first appeared at $0.88 three weeks ago. As of December 10, the USDCHF market was dominated by buyers. The two currencies were worth $0.92 few days ago. Near the first suggested level, a bearish engulfing candle pattern was observed. The price then began to drop by roughly $0.90. At the previously noted resistance level, the head and shoulder chart pattern was observed to form. At the moment, $0.89 is the target price.

.89 Level" width="1281" height="573" data-lazy-src="https://learn2.trade/wp-content/uploads/2025/02/Daily-59.png"/> The USDCHF exchange rate is currently below the Hull Suite, indicating a bearish reversal impulse. Price decreases are indicated by the forex signal QQE MOD, which is skewed below the zero line. If the purchasing momentum can sustain over the $0.90 resistance position, the price can rise above $0.91 and approach the $0.92 hedge levels. Merchandisers can, however, drop the price below $0.87 if they apply enough pressure to move it from the $0.89 to the $0.88 area.

USDCHF Medium-term Trend: Bearish

The medium-term forecast for the USDCHF is unmistakably bearish. A few days before, the currency pair had surged due to a double top candle pattern near the $0.90 barrier level. On January 13, the price successfully attempted to peak at $0.91 when a pin bar formed. The price right now is about $0.89. Bears may break through the aforementioned level and push the price to the $0.88 mark.

.89 Level" width="1281" height="573" data-lazy-src="https://learn2.trade/wp-content/uploads/2025/02/4-hours-55.png"/> When the currency pair trades below the Hull Suite signal, it is a sign of a bear market. If the QQE MOD is less than zero, it is recommended to offer anything for sale.

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