USDCHF Price Is Breaking Up $0.931 level Targeting $0.935

USDCHF Price Analysis – March 11

In case the Bulls’ momentum increase, USDCHF price may break up the resistance level at $0.931, then, 0.935 levels may be reached and it may incline to $0.939 level. Should the bulls lose momentum, the support level of $0.927, may be reached and further decrease to $0.922 and $0.916 support levels.

USDCHF Market

Key Levels:

Resistance levels: $0.931, $0.935, $0.939

Support levels: $0.927, $0.922, $0.916

USDCHF Long-term trend: Bullish

USDCHF is bullish on the long-term outlook. The currency pair was ranging within resistance level of $0.927 and $0.922 last two weeks.  Last week, the bulls are gradually gaining more pressure and the price increases to the extent that former resistance level of $0.927 was penetrated and the price is increasing. At the moment, the bulls are trying to push the price to break up $0.931 level.

USDCHF is trading above the two EMAs at close contact. The 9 periods EMA is found above the 21 periods EMA which indicate that bulls are dominating the market. The Relative Strength Index period 14 is at 66 levels displaying bullish market direction. When the Bulls’ momentum increase, USDCHF price may break up the resistance level at $0.931, then, 0.935 levels may be reached and it may incline to $0.939 level. Should the bulls lose momentum, the support level of $0.927, may be reached and further decrease to $0.922 and $0.916 support levels.

 USDCHF Medium-term Trend: Bullish

USDCHF is bullish in the medium-term outlook. The bulls later prevailed over the bears with an increase in the pressure. The former resistance level of $927 has turned to support level. The price is currently increasing towards the resistance level of $0.935. Further increase envisaged provided the resistance level of $0.91 is broken upside.

The 9 period EMA is above the 21 periods EMA as a sign of bullish market. USDCHF is trading above the two EMAs. Meanwhile, the Relative Strength Index period 14 is at 66 levels with signal line pointing up to indicate buy signal.