USDCHF Retreats From 0.9226 As Bulls Look for Confirmation Beyond Key Zones

USDCHF Price Analysis – October 26

During Tuesday’s trading hours, the USDCHF consolidates gains. After achieving impressive gains of more than 40 pips in the US session, the pair retreats from the intraday highs around the 0.9226 level. The USDCHF currency pair is currently trading below 0.9200 as buyers look for confirmation beyond the key zone of the daily chart.

Key Levels
Resistance Levels: 0.9472, 0.9375, 0.9250
Support Levels: 0.9150, 0.9050, 0.8950
USDCHF Long term Trend: Ranging
In the prior day, the USDCHF found support at 0.9150 on the daily chart, and if the pair attempts to break below that level, it might lead to a test of lower levels. The pair is still consolidating in a limited trading range between 0.9150 and 0.9250, where it has been for the past week.

A sustained breakthrough of the 0.9200 resistance zone, on the other hand, would signal a return higher and point to the important 0.9250 resistance level for a re-test. A strong breach of the 0.9175 support level, however, would be an early indication of trend reversal and a shift of attention back to the 0.9150 support level for validation.
USDCHF Short term Trend: Ranging
With resistance at 0.9250, the USDCHF is still anticipated to fall further. The latest rise from 0.9150 is considered another rebound phase of the trend. The intraday trend is in a range with resistance at 0.9215. Otherwise, its trend may stay bullish in the event of a stronger rebound.

At 0.9226 intraday high, the breach might approach the recovery from 0.9250 to 0.9332. A breach of the minor support level of 0.9175, on the other hand, would result in a negative leaning towards the support level of 0.9150. The USDCHF pair appears to be sensitive to further declines and a desire to return under the 0.9200 level at the present.

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