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USDCHF Price: US Dollar Drop Fast, After Core CPI News

USDCHF Price Analysis – September 14

Should the bulls defend the support level of $0.90, the price may reverse and breakout at $0.91 and this may extend to $0.92 and $0.93 levels. When the bears’ pressure increase and are able to push the price down below $0.90 price level, then, $0.89 and $0.88 support level may be tested.

Key Levels:

Supply levels: $0.92, $0.93, $0.94

Demand levels: $0.91, $0.90, $0.89

 

USDCHF Long-term Trend: Ranging

On the daily chart, USDCHF is on the ranging movement. The bulls tried and increase their pressure to certain level, that, the former resistance level of $0.92 has turned to support level. That means the currency pair experienced a gradual increase in price last week.  At the moment, it seems the bulls’ pressure is not yet strong enough to make the pair soar, GBPUSD is returning to consolidation mode.

USDCHF Daily chart, September 14

The currency pair continues hovering over the 9 periods EMA and 21 periods EMA as an indication of ranging market. When the bulls push the price to breakout at the $0.91 resistance level or at $0.90 support level by the bears, it will put an end to the ongoing ranging movement. The Relative Strength Indicator period 14 is below the 60 levels which indicate a sell signal. Should the bulls defend the support level of $0.90, the price may reverse and breakout at $0.91 and this may extend to $0.92 and $0.93 levels. When the bears’ pressure increase and are able to push the price down below $0.90 price level, then, $0.89 and $0.88 support level may be tested.

USDCHF Medium-term Trend: Ranging

USDCHF is ranging on the medium-term outlook. USDCHF continues to dangling within the $0.91 resistance level and the support level of $0.90. The bullish partial breakout experienced last week in the USDCHF market could not hold when the Core CPI news was released. US dollar is weak in strength and the price returns to ranging zone.

USDCHF 4 hour chart, September 14

The Relative Strength Index period 14 is below 50 levels displaying sell signal as it is pointing downside. USDCHF continue trading over and around the 9 periods EMA and 21 periods EMA at close contact which is an indication of ranging movement.

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