USDCHF Analysis – A Strong Momentum for Buyers
USDCHF continues its bullish surge. The pair has been experiencing a remarkable bullish surge, with buyers showing great determination in pushing the price higher. One of the notable achievements was the recent breach of the significant zone at 0.88240. This breakthrough indicates that the bias remains strongly in favor of the buyers, and they seem eager to make further progress.
USDCHF Price Levels
Resistance Levels: 0.91260, 0.90490
Support Levels: 0.87180, 0.85630
Throughout this year, the bullish trend has dominated the USDCHF market. The US dollar has been gaining strength, especially when compared to the last quarter of 2023. The momentum started to build from the key level at 0.83280, and since then, buyers have been steadily eating through several key levels.
In February, the bulls managed to pull back at the price level of 0.85630 before resuming their upward journey. The consolidation phase in the middle of February provided a brief pause, but buyers eventually gained ground a few days later. Currently, the buy strength is poised to head towards another significant level.
The bullish momentum for the USDCHF pair shows no signs of slowing down. Buyers are determined to race across the 0.90490 significant zone and continue towards the 0.91260 market level. These levels hold great importance and could serve as key milestones in the upward journey of the pair. The SAR dots remain unfolded on the buy side, suggesting that the bullish market for USDCHF is likely to get even stronger in the coming days.
Market Expectation
While the bullish surge for the USDCHF pair is impressive, it is essential to consider the possibility of a pullback. Markets rarely move in a straight line, and a temporary correction or consolidation phase is not uncommon.
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