USDCHF Price: Bullish Momentum May Place Price at $0.88 Level

Buyers’ pressure increase

USDCHF Price Analysis – 01 November

If the buying momentum can sustain over the $0.86 resistance level, the price can move above $0.87 and approach the $0.88 barrier levels. If sellers exert sufficient pressure, they can drive the price below $0.85 and into the $0.84 and $0.83 ranges.

Key Levels:

Resistance levels: $0.86, $0.87, $0.88

Support levels: $0.85, $0.84, $0.83

USDCHF Long-term trend: Bullish

The USDCHF daily chart is trending upward. Last month’s unfavorable USDCHF market helped clients, though not by nearly as much as $0.87. The USDCHF market was dominated by sellers from May 1 to September 26. The price of the currency pair was almost exactly $0.85 for the past two weeks. Near the first suggested level, there was a bullish engulfing candle pattern. The price rose to $0.86 right away, a considerable rise. Two tests of the previously defined support level signaled the beginning of the bullish trend. Right now, it’s approaching $0.87.

The USDCHF exchange rate is above the Hull Suite right now, indicating a positive reversal impulse. Price increases are indicated by the forex signal QQE MOD, which is skewed over the zero line. If the buying momentum can sustain over the $0.86 resistance level, the price can move above $0.87 and approach the $0.88 barrier levels. If sellers exert sufficient pressure, they can drive the price below $0.85 and into the $0.84 and $0.83 ranges.

USDCHF Medium-term Trend: Bullish

It becomes clear that the USDCHF has a medium-term bullish tilt. The currency pair rose a few days ago due to a bullish engulfing candle formation near the $0.84 barrier level. On August 15, the price made yet another unsuccessful attempt to drop below $0.83. The price is currently closer to $0.87.

When the currency pair trades above the Hull Suite signal, it indicates a bullish market. If the QQE MOD is greater than zero, it is recommended to offer anything for sale.