USDCHF Sellers Resume Bearish Flow

Market Analysis – Buyers Lose Control 

USDCHF sellers resume bearish flow. Traders and investors have been closely monitoring the market as it experiences a bearish flow. The market has been falling steadily toward the 0.88840 significant level, and the bearish pressure has been on the rise for weeks. 

USDCHF Key Levels

Resistance Levels: 0.91470, 0.90670 
Support Levels: 0.89760, 0.88840
The month of May witnessed a fierce battle between buyers and sellers in the USDCHF market. Initially, the buyers managed to challenge their way through the 0.91470 significant level, indicating a potential bullish momentum. However, their success was short-lived as the sell traders regained control and pushed the price down to the 0.88840 price zone. This tug-of-war between buyers and sellers has created an environment of uncertainty and volatility.
 
Currently, the sell traders have once again resumed their flow, exerting downward pressure on the market. This is evident from the Relative Strength Index (RSI), which shows the market direction in favor of the sellers. The RSI is a popular technical indicator used by traders to assess the strength of a trend. In this case, the RSI suggests that the bears are inclined to push the market back to the 0.88840 significant level.

In the current scenario, the momentum indicator has been drawing lower, indicating a decrease in pressure intensity. This suggests that the bearish momentum may experience a temporary slowdown. However, it is important to note that the overall trend remains bearish, and the sell traders are likely to resume their downward push.

Market Expectation 

On the 4-hour chart, the bears have resumed pulling the price lower, indicating a continuation of the bearish trend. The market may fall even below the 0.88840 level, leading to further selling pressure. However, it is crucial to monitor the market closely and consider other technical indicators to confirm the validity of these scenarios.

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