USDCHF Price: Bulls Are Pressing Hard on $0.89 Resistance Level

Price may surpass $0.89 level

USDCHF Price Analysis – 22 November

The price can rise above $0.90 and get closer to the $0.91 barrier levels if the purchasing momentum can hold above the $0.89 resistance level. Sellers can push the price below $0.88 and into the $0.87 and $0.86 areas if they apply enough pressure.

Key Levels:

Resistance levels: $0.89, $0.90, $0.91

Support levels: $0.88, $0.87, $0.86

USDCHF Long-term trend: Bullish

The daily USDCHF chart is showing an upward trend. Clients benefited from the positive USDCHF market this day, as the price break up at $0.88. From September 24, buyers control the USDCHF market. Over the previous two weeks, the currency pair’s price was nearly identical to $0.86. There was a bullish engulfing candle pattern close to the first recommended level. Immediately, the price increased sharply to $0.88. The start of the bullish trend was indicated by two tests of the previously established support level. It is currently getting close to the $0.89 mark.

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A positive reversal impulse is indicated by the USDCHF exchange rate’s present position above the Hull Suite. The forex signal QQE MOD, which is skewed over the zero line, indicates price increases. The price can rise above $0.90 and get closer to the $0.91 barrier levels if the purchasing momentum can hold above the $0.89 resistance level. Sellers can push the price below $0.88 and into the $0.87 and $0.86 areas if they apply enough pressure.

USDCHF Medium-term Trend: Bullish

The USDCHF’s medium-term positive prognosis is evident. A bullish engulfing candle formation near the $0.86 barrier level caused the currency pair to rise a few days prior. The price made another failed effort to go below $0.83 on August 15. Right now, the price is closer to $0.89.

.89 Resistance Level" width="1281" height="573" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/11/4-hours-64.png"/> A bullish market is indicated when the currency pair trades above the Hull Suite signal. Offering anything for sale is advised if the QQE MOD is higher than zero.

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