USDCHF Price: Buyers Are Defending $0.88 Support Level
Login

USDCHF Price: Buyers Are Defending $0.88 Support Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Buyers Ready to take over USDCHF market

USDCHF Price Analysis – 07 June

USDCHF may break through $0.90 and get close to the $0.91 barrier levels if the purchasing momentum can continue over the $0.92 resistance level. Sellers can push the price past $0.89 and into the $0.88 and $0.87 zones if they apply sufficient pressure.

USDCHF Market

Key Levels:

Resistance levels: $0.90, $0.91, $0.92

Support levels: $0.89, $0.88, $0.87

USDCHF Long-term trend: Bearish

There is a downward trend on the USDCHF daily chart. A bull market in the USDCHF helped buyers, though not by nearly as much as $0.91. Since January 3, buyers have been in charge of the USDCHF market. On January 23, the currency pair’s price approached the $0.91 resistance level. A bearish engulfing candle pattern appeared near the previously recommended level, and the price swiftly decreased towards $0.88, indicating a considerable decrease.  The previously indicated level saw two tests, signaling the start of bullish momentum.

USDCHF Price: Buyers Are Defending $0.88 Support Level

A negative reversal impulse is indicated by the USDCHF exchange rate, which is currently lower than it was during the Hull Suite. The forex signal QQE MOD, which is tilted below the zero line, indicates price declines. The price may break through $0.90 and get close to the $0.91 barrier levels if the purchasing momentum can continue over the $0.92 resistance level. Sellers can push the price past $0.89 and into the $0.88 and $0.87 zones if they apply sufficient pressure.

USDCHF Medium-term Trend: Bullish

It is evident that, over the medium term, the USDCHF is inclining. The currency pair started to decline few weeks ago when a double-top chart pattern emerged near the $0.91 resistance level. Price decreased to test the $0.88 support level twice on June 24, but it was unable to keep up the trend. Reversing course, it retested the $0.88 level. The price is currently inclining once more and getting closer to the $0.89 threshold.

USDCHF Price: Buyers Are Defending $0.88 Support Level

A bullish market is indicated by the currency pair’s trading above the Hull Suite signal. Buying is advised if the QQE MOD is more than zero.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News