USDCHF Price: Rejection at $0.947 Resistance Level, Further Price Decrease Envisaged
Login

USDCHF Price: Rejection at $0.947 Resistance Level, Further Price Decrease Envisaged

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

USDCHF Price Analysis – March 18

When the Bears’ momentum increase, USDCHF price may break down the support level at $0.931, then, 0.931 levels may be reached and it may decline to $0.927 level. Should the bears lose momentum at the support level of $0.935, bullish trend may continue towards the $0.939, $0.943 and $0.947 levels.

USDCHF Market

Key Levels:

Resistance levels: $0.939, $0.943, $0.947

Support levels: $0.935, $0.931, $0.927

USDCHF Long-term trend: Bullish

USDCHF is bullish on the long-term outlook. The currency pair soars towards north after the breakout from the ranging movement within the resistance level of $0.927 and $0.922 last two weeks.  Last week, the bulls were gaining more pressure and the price increases to the high resistance level of $0.947, the price pulled back with the formation of inverted pin bar. At the moment, the bears are trying to push the price to break down $0.935 support level.

Daily 27

USDCHF is trading above the two EMAs at close contact. The 9 periods EMA is found above the 21 periods EMA which indicate that bulls’ momentum is reducing. The Relative Strength Index period 14 is at 57 levels displaying bearish market direction. When the Bears’ momentum increase, USDCHF price may break down the support level at $0.931, then, 0.931 levels may be reached and it may decline to $0.927 level. Should the bears lose momentum at the support level of $0.935, bullish trend may continue towards the $0.939, $0.943 and $0.947 levels.

 USDCHF Medium-term Trend: Bearish

USDCHF is bearish in the medium-term outlook. The bulls were able to push the currency pair to the resistance level of $0.947. The price pulled back to retest the support level of $0.935. The price consolidates for short period of time. On March 17, bears gained momentum, the support level of $0.939 was broken downside.

4hours 28

The 9 period EMA is crossing the 21 periods EMA downside as a sign of bearish market. USDCHF is trading below the two EMAs. Meanwhile, the Relative Strength Index period 14 is at 46 levels with signal line pointing down to indicate sell signal.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News