USDCHF Price Dives Lower as Bearish Strength Heightens

USDCHF Analysis – The Bears Are Ready to Prune Deeper

USDCHF price dives lower as bearish strength heightens. The recent USDCHF currency pair encounter indicates a bearish force poised to plunge lower. The sellers have been strong enough to breach below the 0.92300 key zone. This implies that the sellers are now ready to cause more price flow. The currency pair had a stale ride before breaking out below the 0.92300 significant level. After weeks of accumulation, the bears have decided to cause an even more bearish market flow.

USDCHF Market Levels

Resistance Levels: 1.01400, 0.95390
Support Levels: 0.92300, 0.90730

After the buyers decided to take a break at the 1.01400 significant level, the USDCHF sellers increased their selling vigor. This critical level marked the start of the bearish expansion and the end of the bullish setup at the time. As strong volume rallied lower, the bears were able to make room for a more bearish flow. With the Moving average indicator giving a golden cross, traders that entered at the 1.01400 key zone would have made more pips.

The bearish strength continued to increase as more order blocks were exceeded. The buying in recent weeks has attempted to counteract the market’s selling strength. On the daily chart, the moving average indicator has given us another crossover as sellers prepare to dive lower. The Relative Volatility Index indicator is below 50, which marks the middle line. As a result, sellers are prepared to press lower on the daily chart time frame.

Market Expectation

On the 4-hour chart, the market is trading on a swing of lower lows and highs. As a result, sellers are still gaining momentum, pushing the currency pair lower to the 0.90730 key zone.

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