USDCHF Price May Drop to $0.80 Line

Bears’ momentum increase in USDCHF market

USDCHF Price Analysis – 11 April

The price can increase above $0.82 and get closer to the $0.83 hedging levels if the buying momentum can hold above the $0.84 resistance position. However, if sellers put in enough effort to move the price from $0.81 to $0.80, merchandisers can lower the price below $0.79.

Key Levels:

Resistance levels: $0.82, $0.83, $0.84

Support levels: $0.81, $0.80, $0.79

USDCHF Long-term trend: Bearish

Over the previous week, the USDCHF chart has been heading lower. Since the price originally surfaced at $0.84 three weeks ago, clients have benefited from the robust USDCHF market. The USDCHF market has been dominated by sellers since February 25. A few days ago, the value of the two currencies was $0.83. At the first recommended level, a bearish engulfing candle pattern was visible. After that, the price started to drop by more than $0.83. The bearish harami candle pattern was seen to emerge at the resistance level that was previously mentioned. The current goal price is $0.80.

A negative reversal impulse is indicated by the USDCHF exchange rate’s present position below the Hull Suite. The forex signal QQE MOD, which is tilted below the zero line, indicates price declines. The price can increase above $0.82 and get closer to the $0.83 hedging levels if the buying momentum can hold above the $0.84 resistance position. However, if sellers put in enough effort to move the price from $0.81 to $0.80, merchandisers can lower the price below $0.79.

 

USDCHF Medium-term Trend: Bearish

The USDCHF has a distinctly bleak medium-term outlook. A double top candle pattern close to the $0.91 barrier level had caused bearish pressure on the currency pair a few days earlier. When an inner bar candle pattern emerged on March 25, the price made a successful attempt to break up at $0.88. The price started to decline toward the south. Right now, the price is $0.81. The price may drop to $0.80 if bears are successful in breaking through the aforementioned barrier.

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The currency pair is said to be in a bear market when it drops below the Hull Suite signal. Offering anything for sale is advised if the QQE MOD is less than zero.

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