USDCHF Price Analysis – March 23
. An increase in the Bulls’ momentum will lead to an increase in the USDCHF price which may reach the resistance level at $0.93, 0.94 levels and may extend to $0.95 level.
Resistance levels: $0.93 $0.94, $0.95
Support levels: $0.92, $0.91, $0.88
USDCHF Long-term trend: Bullish
USDCHF is bullish on the long-term outlook. The former resistance level of $0.92 has turned to support level which indicates that the bulls keep on ruling the USDCHF market. USDCHF was consolidating within $0.92 and $0.91 price level last week. Today, the bulls gain more pressure to break up the $0.92 resistance level and the price move towards the resistance level at $0.93 with the formation of strong daily bullish candle.
The currency pair has broken up the two EMAs. The 9 periods EMA and the 21 periods EMA remains below the currency pair which is moving towards $0.93 level which indicate the Bulls’ strength in the
The Relative Strength Index period 14 is above 60 levels bending up to indicate buy signal. An increase in the Bulls’ momentum will lead to an increase in the USDCHF price which may reach the resistance level at $0.93, 0.94 levels and may extend to $0.95 level. Interference of the bears may reduce the price to the support level at $0.92, $0.91 and $0.88 levels.
USDCHF Medium-term Trend: Bullish
USDCHF is bullish in the medium-term outlook. The currency pair bounces at the support level of $0.91 and rallies towards the $0.93 resistance level. It penetrates the barrier at $0.92 level. Today, the bulls dominate the USDCHF market and the price is targeting the resistance level at $0.93.
The 9 period EMA is trying to cross the 21 periods EMA upside, USDCHF is trading above the two EMAs. Meanwhile, the Relative Strength Index period 14 is at 60 levels with upward direction, which connotes buy signal.