Bulls’ momentum may increase in USDCHF market
USDCHF Price Analysis – 01 April
In case the buyers exert enough pressure, the $0.92 barrier level might be broken, and the rising trend might carry on to the $0.93 and $0.94 levels. The price may pass through the $0.91 support level and fall toward the $0.90 and $0.89 support levels if sellers continue to apply pressure and hold the $0.92 resistance level.
USDCHF Market
Key Levels:
Resistance levels: $0.92, $0.93, $0.94
Support levels: $0.91, $0.90, $0.89
USDCHF Long-term trend: Bearish
USDCHF is on a bearish movement on the Long-term outlook. The market was dominated by buyers a few weeks ago. The resistance of $0.93 was broken by price. It traveled in all directions for a few days. On March 9, a bearish engulfing candle formed, and the price fell to test the $0.90 support level. Last week, as buyers and sellers compete for control of the aforementioned level, the price tested $0.93; at the moment, it is struggling to break down $0.91 level.
USDCHF is currently trading below the two EMAs, and the 9-period EMA has crossed the 21-period EMAs downside. The Relative Strength Index period 14 at 43 levels indicates a bearish market. In case the buyers exert enough pressure, the $0.92 barrier level might be broken, and the rising trend might carry on to the $0.93 and $0.94 levels. The price may pass through the $0.91 support level and fall toward the $0.90 and $0.89 support levels if sellers continue to apply pressure and hold the $0.92 resistance level.
USDCHF Medium-term Trend: Bearish
USDCHF is bearish in the medium-term outlook. The formation of a double-top chart pattern is noticed at the resistance level of $0.93. It means that bears’ momentum increased in the USDCHF market. The currency pair enters a bearish trend. When buyers were trying to increase the price around the $0.93 resistance level, sellers stepped in and forced the price to drop until it reached the $0.91 support level last week. Since then, the price has been dwindling between $0.92 and $0.91 levels.
The 9-period EMA is interlocked with the 21-period EMA. The USDCHF is currently trading around the two EMAs, indicating a ranging market. The signal line on the Relative Strength Index period 14 is displaying a bullish direction at the 45 level.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
