USDCHF Price Analysis – August 10
The bulls’ pressure may push the price up to $0.92 price level; above the mentioned level are the following resistance levels; $0.93 and $0.94. Should the bears defend the resistance level of $0.92, the price may reverse and the support levels may be found at $0.91, $0.90, and $0.89.
Key Levels:
Supply levels: $0.92, $0.93, $0.94
Demand levels: $0.91, $0.90, $0.89
USDCHF Long-term Trend: Bullish
USDCHF is on the bullish trend. US dollar is gaining enough strength to propel the USDCHF pair towards the north side. Sellers’ momentum is currently weak as more buyers are coming into the USDCHF market. USDCHF has broken up the resistance level of $0.91 and it is currently increasing towards the resistance level of $0.92.
The bulls may continue to dominate the USDCHF market and it is possible to reach the high resistance level at $0.93. The Relative Strength Indicator period 14 is pointing up at 60 levels which indicate buy signal. The bulls’ pressure may push the price up to $0.92 price level; above the mentioned level are the following resistance levels; $0.93 and $0.94. Should the bears defend the resistance level of $0.92, the price may reverse and the support levels may be found at $0.91, $0.90, and $0.89.
USDCHF Medium-term Trend: Bullish
USDCHF is bullish on the medium-term. The currency pair bounces at the support level of $0.90 on August 04. A bullish engulfing candle formed at the mentioned level and increases to $0.91. The just mentioned resistance level is broken up and the price is increasing towards the resistance level of $0.92.
USDCHF has crossed the two EMAs upside to continue trading above the 9 periods EMA and 21 periods EMA at a distance. The Relative Strength Index period 14 is at 70 levels displaying a buy signal.