USDCHF Price Is Struggling to Break Up $0.90 Zone

USDCHF under Bulls’ pressure

USDCHF Price Analysis – 27 December

If the buying momentum can sustain over the $0.90 resistance level, the price can move above $0.91 and approach the $0.92 barrier levels. If sellers exert sufficient pressure, they can drive the price below $0.89 and into the $0.88 and $0.87 ranges.

Key Levels:

Resistance levels: $0.90, $0.91, $0.92

Support levels: $0.89, $0.88, $0.87

USDCHF Long-term trend: Bullish

The USDCHF daily chart is trending upward. Customers benefited from the strong USDCHF market during the last two weeks when the price broke out at $0.87. As of December 10, the USDCHF market was dominated by buyers. The currency pair was worth $0.88 two days ago. Near the first suggested level, there was a bullish engulfing candle pattern. After then, the price began to rise near $0.89. The start of the bullish trend was indicated by two tests of the previously established support level. At the moment, it is approaching the $0.90 threshold.

The USDCHF exchange rate is currently above the Hull Suite, 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 $0.90 resistance level, the price can move above $0.91 and approach the $0.92 barrier levels. If sellers exert sufficient pressure, they can drive the price below $0.89 and into the $0.88 and $0.87 ranges.

USDCHF Medium-term Trend: Bullish

It is clear that the medium-term forecast for the USDCHF is bright. The currency pair had surged a few days earlier due to a bullish engulfing candle formation near the $0.86 barrier level. On December 12, the price successfully attempted to break above $0.88 once more. The price is currently closer to $0.90.

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 or buy.

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