USDCHF Sellers Strengthen Their Resolve

USDCHF Analysis – Price is Still on Bearish Momentum

USDCHF sellers strengthen their resolve for a further dip. Throughout this week, the market has witnessed a dynamic interplay, with the sellers winning the race. At the beginning of last week, bullish momentum prevailed as buyers eagerly entered the market. This surge was met with initial resistance from bears, leading to some price fluctuations. From the 0.88000 significant level

USDCHF Price Levels

Resistance Levels: 0.90680, 0.88940
Support Levels: 0.87820, 0.85570

As the week progressed, sellers gained momentum, exerting pressure on the market. This resulted in a downturn, with the USDCHF pair experiencing a strong liquidity drive. However, it’s crucial to note that buyers have not been entirely deterred. After the bulls fell out last week, the market pullback ended, and sellers assumed control again. 

Looking ahead, as the year comes to a close, the market’s trajectory remains uncertain. The bears still appear to be gaining an upper hand in the market. The buyers still offer to pose a serious threat to the sellers. The RSI Relative Strength Index shows a bearish stance in the market. The market volume also holds sellers in control at the moment. The bearish trend may be bound to continue for a while as sells hold ground.

Market Expectation

The sellers haven’t lost their will to go lower. The price action in the lower time frame still depicts a greater sell opportunity. As more sellers keep pulling through, it’s an opportunity for more participants to flow in.

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