USDCHF Price: Resistance Level of $1.00 Is Broken Upside, Targeting $1.01 Level
Login

USDCHF Price: Resistance Level of $1.00 Is Broken Upside, Targeting $1.01 Level

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

Azeez Mustapha

Updated:

Bulls’ pressure is increasing

USDCHF Price Analysis – October 21

As buyers are gaining more momentum, the resistance level of $1.01 may be tested and broken upside, above it are $1.02 and $1.03 resistance levels. In case sellers oppose the bullish movement at $1.01, USDCHF may go down towards the support levels at $1.00, $0.99 and $0.98.

USDCHF Market

Key Levels:

Resistance levels: $1.01, $1.02, $1.03

Support levels: $1.00, $0.99, $0.98

USDCHF Long-term trend: Bullish

USDCHF is bullish on the long-term outlook. Buyers are holding tight unto the USDCHF market as the currency pair keep on increasing. Last week, sellers tried to defend the former resistance level of $1.00, buyers were unable to break up the mentioned level. Today, Buyers are gaining more momentum and the significant level of $1.00 is broken up and the price is increasing towards the resistance level of $1.01 level.

USDCHF is trading above the 9 periods EMA and 21 periods EMA at distance indicating strong bullish momentum. The Relative Strength Index period 14 is at 65 levels bending up which connote buy signal. As buyers are gaining more momentum, the resistance level of $1.01 may be tested and broken upside, above it are $1.02 and $1.03 resistance levels. In case sellers oppose the bullish movement at $1.01, price may go down towards the support levels at $1.00, $0.99 and $0.98.

USDCHF Medium-term Trend: Bullish

USDCHF is bullish in the medium-term outlook. The resistance level of $1.00 held the price last week. Buyers exerted more pressure and the just mentioned level was penetrated. At the moment, USDCHF is heading towards the resistance level of $1.01. Should bulls break up $1.01 level, price may go higher to $1.02 level.

The 9 periods EMA has crossed the 21 periods EMA upside. USDCHF is trading above the two EMAs as the price is increasing. The Relative Strength Index period 14 is at 68 levels with signal line showing bullish signal.

You can purchase Lucky Block here. Buy LBlock

  • 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