USDCHF Price May Retest Previous High at $0.92 Resistance Level

Buyers Holds unto USDCHF market

USDCHF Price Analysis – 26 April

Bullish has the potential to breach the $0.91 resistance level and get closer to the $0.93 barrier levels if the buying momentum can continue above the $0.92 resistance level. Sellers may be able to push USDCHF past $0.90 and into the $0.89 and $0.88 range if they apply sufficient pressure.

USDCHF Market

Key Levels:

Resistance levels: $0.91, $0.92, $0.93

Support levels: $0.90, $0.89, $0.88

USDCHF Long-term trend: Bullish

The USDCHF daily chart is rising. A downward trend on the USDCHF market benefited sellers, though not by nearly as much as $0.84. Since January 3, buyers have dominated the USDCHF market. On January 23, the currency pair’s price approached the $0.89 resistance level. A bullish engulfing candle pattern appeared near the level that was previously mentioned, and the price increased to $0.90, indicating a considerable increase. It pulled back after testing the $0.90 resistance level. Right now, it’s moving quickly into the $0.91 zone.

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The currency rate between USD and CHF is greater currently than it was during the Hull Suite, suggesting a stronger inclination to buy. The forex signal QQE MOD, which is rising over the zero line, indicates rising prices. The price has the potential to breach the $0.91 resistance level and get closer to the $0.93 barrier levels if the buying momentum can continue above the $0.92 resistance level. Sellers may be able to push the price past $0.90 and into the $0.89 and $0.88 range if they apply sufficient pressure.

USDCHF Medium-term Trend: Bullish

USDCHF is bullish in the medium term. The currency pair started to rise on December 29 when a double bottom chart pattern emerged near the $0.83 support level. The price increased on January 2 and then leveled off at $0.86. It has absolutely no trouble increasing above $0.86. On the plus side, it appears that the price is currently retracing and getting closer to the $0.90 support level.

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A bullish market is indicated by the currency pair’s trading above the Hull Suite signal. In the event that the QQE MOD is less than zero, selling is advised.

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