USDCHF Price Is Targeting $0.28 Resistance Level

USDCHF Price Analysis – December 07
Further increase in the Bulls’ pressure is highly envisaged and the supply level of $0.928 may be reached. Any interruption by the Bears may be a pullback, which is inevitable in the trending market.
Key Levels:
Supply levels: $0.928, $0.936, $0.946
Demand levels: $0.921, $0.914, $0.909
USDCHF Long-term Trend: Bullish
USDCHF is bullish on the long-term outlook. The last two weeks market closed at the supply level of $0.928.The Bulls’ pressure increased and test the supply level of $0.936. A Strong bearish daily candle emerged and broke down the support levels of $0.928 and $0.936. The low of $0.91 was tested on December 03. On December 06, bulls gained more pressure to counter the downward movement of USDCHF. Bulls are returning in to the market at the moment.
The currency pair is moving farther away from the two EMAs as a symbol of an increase in the Bulls’ momentum. The price is trading above the 9 periods EMA and 21 periods EMA. Further increase in the Bulls’ pressure is highly envisaged and the supply level of $0.928 may be reached. Any interruption by the Bears may be a pullback, which is inevitable in the trending market. The Relative Strength Index period 14 is above 50 levels with the signal lines pointing up to indicate a buy signal.

USDCHF Medium-term Trend: Bullish
USDCHF is bullish on the medium-term outlook. The Bulls continue to dominate the USDCHF market. This uptrend movement started on 05 December and ever since then, it has been increasing towards the north. The demand levels of $0.921 have been broken upside. The price is heading towards the supply level of $0.926.
The currency pair is trading above the 9 periods EMA and 21 periods EMA which connotes bullish movement in the USDCHF market. However, the Relative Strength Index period 14 is at 60 levels with the signal lines pointing up to indicate a buy signal.