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Technical Analysis of the USD/CHF – An overview of important support and resistance levels of the four major currency pairs of the ongoing week.

 

• First key support level of EUR/USD: 1.091742
• Second Key support level of EUR/USD: 1.084834
• Third Key support level of EUR/USD: 1.079173
• First key resistance level of EUR/USD: 1.09837
• Second Key resistance level of EUR/USD: 1.107469
• Third Key resistance level of EUR/USD: 1.11

• First key support level of USD/CHF: 0.895877
• Second Key support level of USD/CHF: 0.8925
• Third Key support level of USD/CHF: 0.8868
• First key resistance level of USD/CHF: 0.9
• Second Key resistance level of USD/CHF: 0.906927
• Third Key resistance level of USD/CHF: 0.9115

• First key support level of GBP/USD: 1.239276
• Second Key support level of GBP/USD: 1.235221
• Third Key support level of GBP/USD: 1.228
• First key resistance level of GBP/USD: 1.247291
• Second Key resistance level of GBP/USD: 1.25
• Third Key resistance level of GBP/USD: 1.254

• First key support level of USD/JPY: 133.9
• Second Key support level of USD/JPY: 132.746667
• Third Key support level of USD/JPY: 130.62
• First key resistance level of USD/JPY: 135.113333
• Second Key resistance level of USD/JPY: 136.435506
• Third Key resistance level of USD/JPY: 137.8

 

Technical Analysis of the USD/CHF Currency Pair on 19/04/2023!

 

The USD/CHF currency pair has undergone a consistent and fundamental downward trend in recent weeks, during which the sellers obtained the lowest price level of 0.88603. In long-term periods such as monthly and weekly, the price is oversold (relatively), and there will be a potential for corrective movement in the weekly period during the next candles.

The rising trend line consisting of two support points and breaking it still shows its support potential for the price and is still considered an obstacle for the price to fall further. The price floor of 0.88603 has stabilised in the daily time frame at the moment, and so far, it has prevented the price from falling further and the advance of sellers.

According to the type of price movements formed between the price ceiling of 1.01480 and the price floor of 0.88603, an upward non-ideal harmonic pattern of the “Cyber” type has been created, which indicates the possibility of a price rise from point D. In general, according to the current conditions, until the price floor is stable at 0.88603, the price will have the potential to rise, and in this case, buyers will look for resistance levels of 0.9 and, in the next step, up to 0.90700.

 

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