Rises back above 0.9200 as bullish harami emerges – Crypto News – Crypto News
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Pullback appears set to break 0.9800 threshold Pullback appears set to break 0.9800 threshold

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Rises back above 0.9200 as bullish harami emerges – Crypto News

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3 years ago

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  • USD/CHF rebounds around 0.9170s as buyers stepped in, lifting the pair near 0.9200.
  • For the USD/CHF to extend its losses, it needs a daily close below 0.9200.
  • Otherwise, a bullish harami candlestick pattern could exacerbate a USD/CHF rally towards 0.9300.

USD/CHF is trimming Monday’s losses and bounces from daily lows, as sellers failed to gain traction beneath the 0.9200 figure, achieving a daily low of 0.9194 before giving way to buyers. Therefore, the USD/CHF is forming a bullish harami candle stick pattern pending confirmation. Therefore, the USD/CHF is trading at 0.9234, gaining 0.25%.

USD/CHF Price Analysis: Technical outlook

After failing to extend its losses below 0.9167, the USD/CHF stages a comeback. Formation of a bullish harami could open the door for further upside, though it needs to be confirmed once the USD/CHF reclaims 0.9292. If that scenario is achieved, then the USD/CHF next resistance would be the 20-day Exponential Moving Average (EMA), which tracks bullish/bearish price action in the pair, at 0.9299. Followed by last week’s high of 0.9409.

However, the Relative Strength Index (RSI) remains in bearish territory, though aiming up, keeping buyers hopeful of higher prices.

As an alternative scenario, the USD/CHF Key support levels would be the 0.9200 figure, followed by the January 9 daily low of 0.9167, ahead of the 0.9100 mark.

USD/CHF Key Technical Levels

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