USDCHF Bulls Are Under Pressure

Market Analysis – The Bears are Staging a Comeback 

USDCHF bulls are under pressure. The market is currently witnessing a shift in momentum as the bulls faint and sellers exert more pressure. The buyers have been suppressed down to the 0.88220 market level this week, struggling to gather enough strength to push further. If the buyers fail to regain control this week, the bears are likely to push the price toward the 0.87420 market level. 

USDCHF Key Levels

Resistance Levels: 0.88890, 0.88220
Support Levels: 0.87420, 0.83940

The USD has been on the stronger side this year compared to the end of last year. The bulls were quick to push through their luck earlier in the year, with a bullish liquidity flow initiating an uprising from the significant level of 0.83940. However, towards the end of last month, pressure was seen in the dollar market, leading to a pullback to the significant zone of 0.85510. Despite this setback, the buyers managed to pick up again and push the price straight forward, reaching the key level of 0.88890.

Last week, the buyers showed signs of weakness, resulting in a fall and struggling to regain momentum. If the selling intensity continues, the price will likely break lower, with the bears gaining control. Traders should be prepared for potential scenarios and consider utilizing forex signals to stay ahead in their analysis and decision-making process.

Market Expectation

One important indicator to monitor in the USDCHF market is the stochastic oscillator. Currently, the stochastic oscillator indicates that sellers are in control. This suggests that the bears are likely to pierce through the 0.87420 market level. Traders should closely monitor this indicator for any potential shifts in market sentiment.

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