USDCHF Renews Intraday High With a Bid Bias Above Mid 0.9100

USDCHF Renews Intraday High With a Bid Bias Above Mid 0.9100

USDCHF Price Analysis – July 20

On Tuesday the USDCHF remains bid above the mid 0.9100 up 0.23 percent at 0.9195 intraday high. In the short term, the momentum indicators paint a positive picture for the pair. When measured by the US Dollar Index (DXY), the greenback continues to recover strengthening the overall structure of the pair.

Key Levels
Resiistance Levels: 0.9375, 0.9275, 0.9200
Support Levels: 0.9150, 0.9080, 0.9000
USDCHF Long term Trend: Ranging
The USDCHF is currently battling the upside hurdle at 0.9200, which has previously served as resistance. If the bulls claim that number, the road to the swing high of 0.9275 will open up. The surge is expected to pause the 0.9375 horizontal resistance zone as it climbs higher.

The ascending trendline establishes a base around the support region at 0.8933 on the downside, and the lower channel’s surface may attempt to balance any downside correction. However, as the USDCHF strengthens its position within the bullish comeback towards 0.9200, a negative correction in coming sessions is possible.
USDCHF Short term Trend: Ranging
The short-term risk in the USDCHF market appears to be seeking to retain its upside in the 4-hour time frame, but trend signs remain ambiguous for now, suggesting that any price strength could be fleeting. If the USDCHF bulls hold their ground above 0.9200, the 0.9275 level swing high should reappear on the charts.

Overall, the outlook for the pair remains constant, and the intraday bias is initially neutral. The trading range starting at 0.9185 is widening. In the event of a greater loss, the retracement of 0.9117 to 0.9221 levels at 0.9195 intraday high could contain the downside move and bring in a stronger rebound.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.