Skype: Signal2forex / Whatsapp: +79065178835

No products in the cart.

USDCHF Ticks Higher As Bullish Forces Consolidate

USDCHF has been charging higher since June after the price failed to pierce through the 0.8925 region. Although the medium-term uptrend faced a moderate pullback in October, buyers retook control and pushed the price higher.
The pair is likely to continue its ongoing ascent as the immediate bias seems bullish as well. The short-term oscillators further reinforce this view, with the MACD histogram being above both zero and its red signal line, while the RSI is flatlining near the 70-overbought area.

Should the buying pressure intensify even further, immediate resistance could be met at the recent high of 0.9370. Clearing this hurdle would reinforce the resumption of both the medium- and short-term uptrend, setting the stage for the 0.9390 level. Higher up, the price rally might encounter a tougher test at the 0.9472 hurdle.

On the flipside, if positive momentum fades, the price could decline towards the 0.9275 barrier. A violation of this level might send the price to test 0.9235 or even lower challenge the 0.9175 region, where the 200-day simple moving average (SMA) is currently found. Diving beneath these levels, the bears might then target the 0.9100 psychological mark, which is slightly higher than the November low.

In brief, USDCHF is sustaining a bullish tone, while momentum indicators suggest that it could propel even higher. Only a break below the 0.9100 region could alter its outlook to negative.

Share this product!

Do you want to start trade profitably?
Earn 50-300% monthly!