USDCHF Buyers Wrangle Below the Old Monthly Low

USDCHF Analysis – Buyers Hope for a Drive Back to the 0.90700 Key Zone

USDCHF buyers wrangle below the old monthly low of 0.90700. The current market situation has been a challenge for buyers due to the order set by sellers. The bears’ attack has caused a drop below the 0.90700 key level, and buyers have struggled to make a comeback since then. Despite buyers’ efforts, sellers remain willing to push the price lower. Traders should keep an eye out for a potential fightback toward the 0.90700 key level before sellers make a strong move lower on the currency pair.

USDCHF Significant Levels

Resistance Levels: 1.00560, 0.954900
Support Levels: 0.92000, 0.907000

It’s important to note that the sellers’ order has had a significant impact on the market, causing buyers to struggle. The drop below the 0.90700 key level has been a major setback for buyers, who have yet to make a solid comeback. Despite this, sellers are still looking to push the price lower, indicating a bearish sentiment in the market.
The bearish trend has dominated the market since 2022, with sellers capitalizing heavily on it. The sell-off started when buyers pushed above the parity level to the 1.005600 key level. The bears continued to dominate the market, causing a massive drop that extended into 2023. Buyers in the market have been trying to push through the strong resistance around the 0.954900 key zones, but have been unsuccessful so far. Unfortunately, a price reversal occurred, which led to selling sentiment and caused sellers to push the price lower. This resulted in the 0.907000 key level being broken.

Market Expectation

Despite this setback, buyers are beginning to fight back in the market. The Stochastic Oscillator has given selling signals, but buyers are still making efforts to gain control. However, sellers still control the big trend as the Bollinger Band indicator is still expanding downward.

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