USDCHF Price: Bulls Oppose Bears at $0.921

USDCHF Price Analysis – February 25

When the Bulls’ momentum increase, USDCHF price may break up the resistance level at $0.927, then, 0.931 levels may be reached and it may incline to $0.935 level. Should the bears break down the support level of $0.922, then, $0.917 and $0.909 level may be tested.

USDCHF Market

Key Levels:

Resistance levels: $0.927 $0.931, $0.935

Support levels: $0.922, $0.917, $0.909

USDCHF Long-term trend: Bullish

USDCHF is bullish on the long-term outlook. The currency pair was bearish last week. The bears pushed down the price towards the support level of $0.90. The mark is not yet reached before the bulls interrupted the bearish movement with the formation of strong bullish engulfing candle. The former resistance level of $0.922 is already penetrated upside and the price is trying to break up $0.926 level.

 

USDCHF is trading above the two EMAs. The 9 periods EMA is bending towards the 21 periods EMA which indicate that bulls are dominating the market. The Relative Strength Index period 14 is at 55 levels pointing upside to indicate buy signal. When the Bulls’ momentum increase, USDCHF price may break up the resistance level at $0.927, then, 0.931 levels may be reached and it may incline to $0.935 level. Should the bears break down the support level of $0.922, then, $0.917 and $0.909 level may be tested.

USDCHF Medium-term Trend: Bullish

USDCHF is bullish in the medium-term outlook. The currency pair was declining towards the support level of $0.909 last week. The bearish momentum failed and could not push the price beyond the $0.92 zone. Bulls gathered more pressure and the price changed the direction towards the resistance level of $0.926. The price may continue a bullish trend when the just mentioned level is broken upside.

The 9 period EMA is above the 21 periods EMA, USDCHF is trading above the two EMA. Meanwhile, the Relative Strength Index period 14 is at 64 levels with signal line pointing up to indicate a buy signal.