USDCHF: Upside Momentum Attempt At Parity Losses Steam, Running Into Sellers

Share On Facebook

The USDCHF reached a new daily high of the level at 0.9987 at the start of the European session but failed to maintain momentum as investors refrained from taking important positions pending further developments on the trade dispute between the United States and China. At the time of writing, the pair was up 0.07% on the day on the level at 0.9970.

USDCHF Price Analysis – November 26

Key Levels

Resistance Levels: 1.0231, 1.0126, 1.0027
Support Levels: 0.9869, 0.9798, 0.9659

USDCHF Long term Trend: Bullish

Overall, only the medium-term trend stays neutral, with USDCHF remaining in the range of the level at 0.9659 / 1.0231. In all cases, a decisive break of the level at 1.0231 is needed to indicate a recovery of the uptrend.

Otherwise, a more parallel trend may lead to another plunge. Meanwhile, the support break of the level at 0.9890 may instead target support on the level at 0.9841. The outlook is bullish, displaying yet an intact uptrend in the short and long-term trend.

USDCHF Short term Trend: Bullish

The USDCHF is losing ground from the upside, as shown by the 4-hour RSI. But with minor support intact on the level at 0.9949, the intraday bias stays slightly higher. Consolidation starting on the level at 1.0027 should end at the level at 0.9869.

A new advance may be seen to test the level at 1.0027 again first. While a break there may resume its total advance from the level at 0.9659 to retracement from the level at 1.0237 to 0.9659 to 1.0126. On the flip side, a break of the level at 0.9949 minor support may tip the balance forward to extend the consolidation with another foot down.

Instrument: USDCHF
Order: Buy
Entry price: 0.9964
Stop: 0.9890
Target: 1.0231

Source: https://learn2.trade

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20191214 22:02:11