{"id":141626,"date":"2023-09-01T21:12:28","date_gmt":"2023-09-01T15:42:28","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=141626"},"modified":"2023-09-01T21:12:28","modified_gmt":"2023-09-01T15:42:28","slug":"further-downside-towards-0-8700-appears-impulsive-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/further-downside-towards-0-8700-appears-impulsive-crypto-news\/","title":{"rendered":"Further downside towards 0.8700 appears impulsive &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>USD\/CHF remains pressured at weekly low, extends pullback from 50-DMA, key resistance line.<\/strong><\/li>\n<li><strong>Downside break of monthly support line, looming bear cross on MACD also favor Swiss Franc pair sellers.<\/strong><\/li>\n<li><strong>One-month-old horizontal support zone appears a tough nut to crack for bears.<\/strong><\/li>\n<li><strong>Buyers need successful break of 0.8830 to retake control.<\/strong><\/li>\n<\/ul>\n<p>USD\/CHF drops to the lowest level in a week while refreshing intraday bottom around 0.8765 heading into Thursday\u2019s European session. In doing so, the Swiss Franc (CHF) pair prints a two-day losing streak by extending the previous day\u2019s reversal from the 50-DMA and a three-month-old descending resistance line.<\/p>\n<p>Not only the failure to cross the key DMA and trend line resistance but a sustained trading beneath the previous support line, which broke on Monday, joins the impending bear cross on the MACD indicator to also keep the USD\/CHF sellers hopeful.<\/p>\n<p>With this, the Swiss Franc (CHF) pair sellers approach a one-month-old horizontal support zone surrounding the 0.8700 threshold.<\/p>\n<p>Following that, the 0.8635-30 region will act as the final defense of the USD\/CHF buyers before pushing the traders toward the multi-year low marked in July around 0.8552.<\/p>\n<p>Meanwhile, a convergence of the stated DMA and trend line, around 0.8805, restricts the immediate upside of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdchf\">the USD\/CHF pair<\/a>, a break of which could propel the quote towards the previous support line surrounding 0.8825.<\/p>\n<p>However, the quote\u2019s upside past 0.8825 needs validation from the double tops surrounding 0.8830.<\/p>\n<p>Overall, the USD\/CHF remains bearish but the room toward the south appears limited.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CHF: Daily chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_CHF-24082023-638284528220012546.png\"><\/a><\/p>\n<p>Trend: Limited downside expected<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/CHF remains pressured at weekly low, extends pullback from 50-DMA, key resistance line. Downside break of monthly support line, looming bear cross on MACD also favor Swiss Franc pair sellers. One-month-old horizontal support zone appears a tough nut to crack for bears. Buyers need successful break of 0.8830 to retake control. USD\/CHF drops to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":15804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,605,246,257,276,255,250,252,247,253,249,524,308,597,256,254],"class_list":["post-141626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-chartpatterns","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-supportresistance","tag-technical-analysis","tag-usdchf","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=141626"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141626\/revisions"}],"predecessor-version":[{"id":141627,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141626\/revisions\/141627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/15804"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=141626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=141626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=141626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}