USDCHF Buyers Still Hold Cards in the Market

USDCHF Analysis – Sellers Lure Prices Below the 0.91060 Significant Zone 

USDCHF buyers still hold cards in the market as sellers lure prices below the 0.91060 significant zone. The buyers are currently holding the market, but sellers are attempting to lure the price below the significant zone of 0.91060. Despite the buyers’ readiness to extend their bids above the key zone, they have been held back due to low impulse from buy traders. This has given sellers more opportunities to cause a drawback. 

USDCHF Key Levels

Resistance Levels: 1.01420, 0.95620
Support Levels: 0.91060, 0.88450

Since March 2023, the USDCHF market has been responding to bearish momentum. There has been a significant drop in the market following a price drop from the parity level, with the market being held on a bearish trend down to the 0.88450 significant zone from the 0.94220 significant level in March.
 
The market saw a shift in power as the buyers took over from the bearish reign, reaching a significant level of 0.88450. Currently, the buyers have gained control near the next order level of the 0.91060 significant zone. Despite a recent setback, there are still indications of a buying tendency, with the MACD indicator signaling a bullish trend.

Market Expectation 

However, the Stochastic indicators are showing a slight decline, which buyers should be aware of. Despite this, there is still potential for a buying slot in the coming days. The market is showing signs of a positive trend, with buyers poised to take advantage of the current situation. Overall, the USDCHF market is currently being held by buyers, but sellers are attempting to take control. The market has been on a bearish trend since March 2023, with a significant drop in price from the parity level. The current significant zone is at 0.91060, with buyers ready to extend their bids above it.

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