The USDCHF price has been on an upward trend, with the price line moving steadily above a bullish trend line for some time. However, traders should take note that the price is now approaching a resistance zone, indicated as a light red zone on the chart. This suggests that the bullish power driving the price higher may be waning. As such, traders should be alert for a potential break below the red ascending trend line. If the price does break below this level, it could be a signal for traders to enter short positions. It is important for traders to stay vigilant and monitor the price action closely to make informed trading decisions.
• There is a resistance level at 0.94300 followed by resistance at 0.94600 and 0.95400
• There is a support level at 0.92300. Below, there is 0.91500 and 0.90900.
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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