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Bulls Interrupt Price Increase at $0.92 Zone, Price Declination Envisaged – Cryptovibes.com – Daily Cryptocurrency and FX News

Bulls Interrupt Price Increase at $0.92 Zone, Price Declination Envisaged – Cryptovibes.com – Daily Cryptocurrency and FX News


 USDCHF Price Analysis – September 21

In case the bulls push the daily candle to close above the $0.92 resistance level, the price may continue to increase towards the resistance level of $0.93 and $0.94. Failure to close above the resistance level of $0.92, the price may continue to decline to the support levels 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

On the daily chart, USDCHF is on the bullish movement. The currency pair was confined within the resistance level of $0.91 and the support level of $0.90 last two weeks. The bulls tried and increase their pressure to break up the resistance level of $0.91 and the price increases to $0.92 level. The just mentioned level was penetrated on September 17. Retest was carried out yesterday, bullish trend may continue provided daily candle close above $0.92 level.

The currency pair is trading above the 9 periods EMA and 21 periods EMA as an indication of bullish market. In case the bulls push the daily candle to close above the $0.92 resistance level, the price may continue to increase towards the resistance level of $0.93 and $0.94. Failure to close above the resistance level of $0.92, the price may continue to decline to the support levels at $0.91, $0.90 and $0.89.   The relative strength index period 14 is at 60 level pointing down to indicate sell signal.

USDCHF Medium-term Trend: Bearish

USDCHF is bearish on the medium-term outlook. USDCHF experienced a bullish breakout at the resistance level of $0.91 on September 13. It continue to increase and have a partial breakout at $0.92 level. The bears interrupt the price increase with formation of more bearish candle and the price is currently declining towards the support level of $0.91.

The Relative Strength Index period 14 is below 50 levels displaying sell signal as it is pointing downside. USDCHF may continue trading below the 9 periods EMA and 21 periods EMA which is an indication of bearish market.



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