USDCHF Price Breaks Up $0.91 Price Level, Targeting $0.92

USDCHF Price Analysis – November 10
The Bullish movement may continue, to test the resistance of $0.91, the mentioned level may be penetrated and increase to $0.92 and $0.93. In case the resistance level of $0.91 is defended by the bears, the price will pull back and retest $0.90, it may continue downtrend to $0.89 and $0.86 provided the bears increase their momentum.

Key Levels:
Supply levels: $0.91, $0.92, $0.93
Demand levels: $0.90, $0.89, $0.86

USDCHF Long-term Trend: Bullish
On the daily chart, USDCHF is bullish. The upward movement that followed the double bottom chart pattern formed two weeks ago hits the resistance at the $0.92 level. The price reversed when the strong daily bearish candle that engulfs the previous bullish candles appeared. The price decline to the support level of $0.89. Yesterday, there was a price spark in the market to the extent that the price increases by 122 pips.
The price breaks up the former resistance level of $0.90 heading towards the $0.91 level. The currency pair has crossed the two dynamic resistance levels upside and the price is trading above 9 periods EMA and 21 periods EMA. The Bullish movement may continue, to test the resistance of $0.91, the mentioned level may be penetrated and increase to $0.92 and $0.93. In case the resistance level of $0.91 is defended by the bears, the price will pull back and retest $0.90, it may continue downtrend to $0.89 and $0.86 provided the bears increase their momentum.

USDCHF Medium-term Trend: Bullish
USDCHF is bullish in the 4-hour chart. The bearish momentum could not break down the support level of $0.89 when it reaches the level on November 08. The bulls gain more momentum and propel the price towards the resistance level of $0.90, the level is broken up and the $0.91 level is tested and currently breaking up the just mentioned level.
USDCHF is trading above 9 periods EMA and the 21 periods EMA while the former EMA is crossing the latter. The relative strength index period 14 is pointing up at 70 levels which connote a strong buy signal.