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USDCHF Price Analysis – June 22

An increase in the Bears’ momentum will lead to decrease in the USDCHF price which may break down the support level at $0.95, $0.94 levels and may extend to $0.93 level. In case the bulls oppose the bears, price may increase to the resistance levels at $0.96, $0.97 and $0.98 levels.

USDCHF Market

Key Levels:

Resistance levels: $0.96 $0.97, $0.98

Support levels: $0.95, $0.94, $0.93

 

USDCHF Long-term trend: Bearish

USDCHF is bearish on the long-term outlook. The bulls have successfully pushed the price to reach the high of $1.00 level as the second touch. The former support level of $0.98 has turned to resistance level which indicates that the bears are dominating the USDCHF market. The bears’ momentum is breaking down the $0.95 level as USDCHF is trading below $0.96 price level at the moment. Today, the bears are gaining more pressure to break down the $0.96 support level and the price may move towards the support level at $0.95.

The currency pair has penetrated the two EMAs downside. The 9 periods EMA and the 21 periods EMA remains above the currency pair at close contact which indicate that Bears’ strength in the USDCHF market is increasing. The Relative Strength Index period 14 is at 45 levels parallel to the level to indicate ranging signal. An increase in the Bears’ momentum will lead to decrease in the USDCHF price which may break down the support level at $0.95, $0.94 levels and may extend to $0.93 level. In case the bulls oppose the bears, price may increase to the resistance levels at $0.96, $0.97 and $0.98 levels.

 

 USDCHF Medium-term Trend: Bearish

USDCHF is bearish in the medium-term outlook. The currency pair bounces off at the resistance level of $1.00 and it is moving towards the $0.98 support level. It penetrates the barrier at $0.99 level. Today, the bears dominate the USDCHF market and the price is targeting the support level at $0.95.

The 9 period EMA has crossed the 21 periods EMA downside, USDCHF is trading below the two EMAs. Meanwhile, the Relative Strength Index period 14 is at 42 levels with upward direction, which connotes buy signal.

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