USDCHF Experiences a Strong Bearish Purge

Market Analysis – USDCHF Has a Decision to Make

USDCHF experiences a strong bearish purge down to the 0.86000 market zone. The pair has been on a free fall, with the bears dominating the market zone. The bearish pressure has been building for some time, with a short accumulation phase preceding the current market shift.

Now, with the sellers pushing closer to the 0.86000 market zone, it is up to the currency pair to decide whether a further breakout will occur or buyers will manage to make a comeback. The 0.86000 market zone has not seen much action lately, making it a strong support level.

USDCHF Key Levels

Resistance Levels: 1.01310, 0.96430, 0.93300
Support Levels: 0.91200, 0.86000, 0.88400

As such, it is important for traders to pay close attention to how the market will react before deciding to make any trades. There is a chance that the support level may hold, resulting in a rebound and a move back up in the market. Alternatively, if the bearish pressure continues, the currency pair could break down and move below the 0.86000 mark. In either scenario, traders should be aware of the volatility in the market. They should also keep an eye out for potential reversals, as this could signal a shift in trend.

The bears are currently in a state of alertness as sellers keep pushing the market towards the 0.86000 key zone. This is a crucial point in the market, and buyers are likely looking for a way to fight back. The MACD (Moving Average Convergence and Divergence) indicator is showing a bearish market state.

Market Expectation

The 4-hour chart is also pointing to a bearish market. There is a strong possibility that the market could break out further, but it is also possible that there could be a pullback before the sell trend is confirmed.