USDCHF Slide Poised To Remain, Swissy Gains From Safe-Haven Status

Azeez Mustapha
24 August 2021 | Updated: 24 August 2021

USDCHF Price Analysis – August 24

During Tuesday’s European trading hours, the USDCHF maintain its decline and struck a low of 0.9117 after sliding from the prior day’s high of approximately 0.9178. Amid concerns about the coronavirus and a resurgence in the global economy, the Swiss franc gains on its safe-haven status. At the time of this post, USDCHF is trading at 0.9129.

Key Levels
Resistance Levels: 0.9240, 0.9200, 0.9150
Support Levels: 0.9080, 0.9050, 0.9000
USDCHF Long term Trend: Ranging
On the daily chart’s technical front, a clean break out of the 0.9117 low level could hasten the downturn. Take note of the 0.9018 low of August. If the price falls below 0.9117, the recent low of 0.9018 will be reached. The 0.9000 support zone is guarded by the latest low of 0.9018. To bring volume to the lows of the 0.9018/0.9000 zone, a fall at 0.9117 is required.

However, there are no obvious indicators of completion at this time. The next objective is the anticipated return from 0.9117 to 0.9150 when high-volume trading resumes. A big breakthrough of the 0.9170 resistance level, on the other hand, would be an early indication of a trend reversal and might bring attention to the 0.9200 upside zone.
USDCHF Short term Trend: Ranging
The intraday slope of the USDCHF remains in a range, implying a retest of the 0.9018 bottoms. A break of the minor barrier around 0.9150, on the other hand, would shift short-term expectations and neutralize intraday bias once more. Meanwhile, in order to resume consolidation and enter a new phase of expansion the intraday bias will be dragged back to 0.9200.

The downward slopes of the 5 and 13 moving averages, which are also in a bearish slide, provide additional support for recent near-term forecasts. The RSI is declining, and the short-term picture remains skewed towards August lows, with a breach below this level reinforcing bearish fears.

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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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
  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!
Azeez Mustapha

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.