The price line on USDCHF price chart, experienced a sharp descending wave, starting on November the third 2022. As a result of this bearish wave, the price line on this par experienced more than 7.7% loss until it reached a support level at almost 0.94000. Very recently the price was smoothly pumped after reaching out to the mentioned support zone, which is reflected as a green zone below the price line. RSI has also issued positive divergence signal and is currently showing over selling in the market, increasing the chance of the bearish wave to appear shortly. Traders should keep a sharp eye on this pair to capture any bullish trigger; then can expect the price line to grow until touching the resistance levels above.
• There is a resistance level at 0.95000 followed by resistance at 0.95952 and 0.96720.
• There is a support level at 0.93570. Below, there is 0.93250 and 0.92630.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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