USDCHF Price Tests $0.93 Support Level, What Next?

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Bears’ pressure increases in USDCHF Market

USDCHF Price Analysis –12 November

Should the bears break down the support level of $0.93, the price may decrease towards $0.92, and $0.91 levels. When the support level of $0.93 holds, bullish momentum may increase, USDCHF price may bounce up the level, then, 0.95 levels may be reached and it may incline to $0.96 and $1.02 levels.

USDCHF Market

Key Levels:

Resistance levels: $0.95, $0.96, $1.02

Support levels: $0.93, $0.92, $0.91

USDCHF Long-term trend: Bearish

USDCHF is bearish on the long-term outlook. The resistance level of $1.02 was tested a second time on 03 November by the pressure of bulls. The just-mentioned level holds and the price could not break it up. A bearish engulfing candle formed and the price obey the command. Strong bearish daily candles formed and the price decreased to the $0.93 support level. The former support levels of $0.96 and $1.02 have turned to resistance levels.

USDCHF is trading below the two EMAs at a distance and the 9-periods EMA is bending towards the 21-period EMA. The Relative Strength Index period 14 is at 27 levels bending down to indicate a bearish market direction. Should the bears break down the support level of $0.93, the price may decrease towards $0.92, and $0.91 levels. When the support level of $0.93 holds, bullish momentum may increase, USDCHF price may bounce up the level, then, 0.95 levels may be reached and it may incline to $0.96 and $1.02 levels.

USDCHF Medium-term Trend: Bearish

USDCHF is bearish in the medium-term outlook. Buyers lose momentum at the resistance level of $1.02. The price reverses and breaks down former support levels of $0.95 and $0.96. Sellers are currently dominating the USDCHF market. The pullback may be expected in any trending market. Further price reduction is ongoing.

The 9-period EMA has crossed the 21-periods EMA downside. USDCHF is trading below the two EMAs as the price is decreasing. The Relative Strength Index period 14 is at 18 levels with the signal line showing a bearish direction.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

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
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.