USDCHF Price Is Pulling Back at $0.93 Resistance Level – Cryptovibes.com – Daily Cryptocurrency and FX News
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USDCHF Price Analysis – April 12
The bulls can push the price up to break the resistance level of $0.91, which may extend to $0.93 and $0.95 level. In case the bears defend the $0.92 level; the price may reverse and be confronted with the support level at $0.91 and $0.90. Key Levels:
Supply levels: $0.91, $0.93, $0.95
Demand levels: $0.92, $0.91, $0.90
USDCHF Long-term Trend: Bullish
USDCHF is bullish on the daily chart. The currency pair found support at $0.92 on March 31. A bullish chart pattern formed called morning star; this triggered the bullish momentum and the price increases to test the resistance level of $0.93. The price is currently pulling back touching the dynamic support level.
After the pullback, the bulls can push the price up to break the resistance level of $0.91, which may extend to $0.93 and $0.95 level. In case the bears defend the $0.92 level; the price may reverse and be confronted with the support level at $0.91 and $0.90. The two dynamic levels are close to each other and the 9-periods EMA is trying to cross the 21 periods EMA upside to establish a bullish momentum.
USDCHF Medium-term Trend: Bullish
USDCHF is bullish on the 4-hour chart. The bears push down the pair to support level of $0.92. The bulls opposed the price declination and it increases towards the resistance level of $0.93 and tested the level on April 08. The resistance level of $0.93 holds and the price pulled back.
USDCHF is trading between the two EMAs which indicating gradual increase in the bulls’ momentum and the 9 periods EMA is trying to cross the 21 EMAs upside to establish a bullish momentum. The relative strength index period 14 is bending up at 51 levels to indicate a buy signal.
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