USDCHF Selloff Halts Beyond Mid 0.9300 on Renewed USD Strength


USDCHF Price Analysis – April 6

The USDCHF pair eases from the prior day’s high of 0.9438 while taking downside pressure to fresh lows, the selloff halts beyond the mid 0.9300 level during Tuesday’s European session. Renewed USD strength and mixed reports about US stimulus give investors a pause after sending US stocks to record highs.

Key Levels
Resistance Levels: 0.9901, 0.9547, 0.9472
Support Levels: 0.9354, 0.9304, 0.9220
USDCHF Long term Trend: Ranging
USDCHF capitalized on its bounce at lows and rally to trade positively to intraday highs at 0.9388. Meanwhile, in a broader context, the fall from 1.0237 should have ended at 0.8756, which is an upbeat daily position. The current rally from 0.8756 should first reach the 0.9901 resistance.

There are no clear signs of withdrawal at this time. A break in this zone in the medium term will lead to the target at 1.0237 / 0342. Now this will remain the preferred option as long as the resistance at 0.9045 turns into support. Despite the rally, the overall daily trend remains in range after the initial bounce.
USDCHF Short term Trend: Ranging
USDCHF’s plunge to fresh lows of 0.9354 level in the prior day and its rebound today suggests the uptrend may continue despite the minor correction. The intraday bias stays on the upside. And yet subsequent aim is 61.8% forecast of 0.9901 to 0.8998 from 0.9354 at 0.8756 levels.

Any such breach lower may pave the path to a long-term forecast level at 0.8639 level. On the upside, a breach of 0.9472 near-term resistance is required to indicate short-term bottoming. Yet still, the near-term trend stays in a range despite the anticipated recovery.

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

  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • 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
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
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.