USDCHF Price May Successful Break Up $0.90 Barrier

Bulls pressure may increase again

USDCHF Price Analysis – 03 January

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 daily USDCHF chart is showing an upward trend. The robust USDCHF market over the past three weeks, when the price broke out at $0.87, has benefited customers. Buyers controlled the USDCHF market as of December 10. Two days ago, the value of the currency pair was $0.88. There was a bullish engulfing candle pattern close to the first recommended level. The price then started to increase about $0.89. Two tests of the previously defined support level signaled the beginning of the bullish trend. It is currently getting close to the $0.91 mark.

A positive reversal impulse is indicated by the USDCHF exchange rate’s present position above the Hull Suite. The forex signal QQE MOD, which is skewed over the zero line, indicates price increases. The price can rise above $0.91 and get closer to the $0.92 barrier levels if the purchasing momentum can hold above the $0.90 resistance level. Sellers have the power to push the price below $0.89 and into the $0.88 and $0.87 areas if they apply enough pressure.

USDCHF Medium-term Trend: Bullish

It is evident that the USDCHF has a promising medium-term outlook. A few days prior, a bullish engulfing candle formation close to the $0.86 barrier level had caused the currency pair to soar. The price made another successful effort to break above $0.88 on December 12. At the moment, the price is around $0.90.

A bullish market is indicated when the currency pair trades above the Hull Suite signal. It is advised to offer anything for sale or purchase if the QQE MOD is higher than zero.

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