USDCHF Price: Bullish Momentum Is Building to Lift Price Above $0.93 Level

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Bulls may take over USDCHF market

USDCHF Price Analysis – 27 January

USDCHF may pass through the $0.91 level and fall into the $0.90 and $0.89 support levels if sellers keep up the pressure and hold the $0.92 resistance level. If the buyers exert further pressure, the $0.92 resistance level might be broken positively, and the bullish trend might carry on to the $0.93 and $0.94 levels.

USDCHF Market

Key Levels:

Resistance levels: $0.92, $0.93, $0.94

Support levels: $0.91, $0.90, $0.89

USDCHF Long-term trend: Bearish

USDCHF is on a bearish movement on the Long-term outlook. When the $0.92 support level was tested last week and the price was unable to fall below it, the sellers’ momentum collapsed. The purchasers made an effort to push the price above the $0.93 resistance level, but they lacked adequate vigor. This scenario states that the pair is fluctuating between $0.92 and $0.91.

 

The 9-period EMA and the 21-period EMA are separating from each other and USDCHF is trading below the two EMAs at close contact. The Relative Strength Index for period 14 is at 44 levels, which indicates a positive market trend. The price may pass through the $0.91 level and fall into the $0.90 and $0.89 support levels if sellers keep up the pressure and hold the $0.92 resistance level. If the buyers exert further pressure, the $0.92 resistance level might be broken positively, and the bullish trend might carry on to the $0.93 and $0.94 levels.

USDCHF Medium-term Trend: Bullish

USDCHF is bullish in the medium-term outlook. Last two weeks, the price was moving in a range. When the sellers’ momentum was feeble and they were unable to break through the $0.92 support level, the just mentioned level was defended by the bulls. Eventually, sellers took over, and the $0.90 support level came under test.

The market is currently dominated by buyers, and prices are rising. The 9-period EMA is crossing the 21-period EMA upside. The USDCHF is currently trading above the two EMAs, indicating a bullish market. The signal line on the Relative Strength Index period 14 is displaying bullish direction.

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