USDCHF Price Breaks Up $0.946 Resistance Level Testing $0.956 – Cryptovibes.com – Daily Cryptocurrency and FX News
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USDCHF Price Analysis – April 19
An increase in the Bulls’ momentum will lead to an increase in the USDCHF price which may reach the resistance level at $0.964, 0.975 levels and may extend beyond. Interference of the bears may reduce the price to the support level at $0.946, $0.936 and $0.928 levels.
USDCHF Market
Key Levels:
Supply levels: $0.956, $0.964, $0.975
Demand levels: $0.946, $0.936, $0.928
USDCHF Long-term trend: Bullish
USDCHF is bullish on the long-term outlook. The former resistance level of $0.936 has turned to support level which indicates that the bulls keep on ruling the USDCHF market. USDCHF was consolidating within $0.936 and $0.928 price level last week. Today, the bulls gain more pressure to break up the $0.946 resistance level and the price move towards the resistance level at $0.956 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 $0.956 level which indicate the Bulls’ strength in the daily chart. The Relative Strength Index period 14 is above 70 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 $0.964, 0.975 levels and may extend beyond. Interference of the bears may reduce the price to the support level at $0.946, $0.936 and $0.928 levels.
USDCHF Medium-term Trend: Bullish
USDCHF is bullish in the medium-term outlook. The currency pair bounces at the support level of $0.931 and rallies towards the $0.946 resistance level. It penetrates the barrier at the mentioned level. Today, the bulls dominate the USDCHF market and the price is targets the resistance level at $0.956.
The 9 period EMA has crossed the 21 periods EMA upside, USDCHF is trading above the two EMAs. Meanwhile, the Relative Strength Index period 14 is at 75 levels with upward direction, which connotes buy signal.
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