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Technical analysis of the USD/CHF currency pair on 25/10/2023 – 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: 1.056643
• Second Key support level of EUR/USD: 1.05282
• Third Key support level of EUR/USD: 1.049551
• First key resistance level of EUR/USD: 1.060591
• Second Key resistance level of EUR/USD: 1.063483
• Third Key resistance level of EUR/USD: 1.06941

• First key support level of USD/CHF: 0.89425
• Second Key support level of USD/CHF: 0.89
• Third Key support level of USD/CHF: 0.88211
• First key resistance level of USD/CHF: 0.9
• Second Key resistance level of USD/CHF: 0.908935
• Third Key resistance level of USD/CHF: 0.914794

• First key support level of GBP/USD: 1.21181
• Second Key support level of GBP/USD: 1.20926
• Third Key support level of GBP/USD: 1.20524
• First key resistance level of GBP/USD: 1.21720
• Second Key resistance level of GBP/USD: 1.22115
• Third Key resistance level of GBP/USD: 1.22612

• First key support level of USD/JPY: 149.513
• Second Key support level of USD/JPY: 149.000
• Third Key support level of USD/JPY: 148.433
• First key resistance level of USD/JPY: 149.987
• Second Key resistance level of USD/JPY: 150.077
• Third Key resistance level of USD/JPY: 150.159

 

Technical analysis of the USD/CHF currency pair on 25/10/2023.

 

The USD/CHF currency pair has gone through a relatively strong downtrend over the past three weeks, with sellers reaching a low of 0.88880 during this downtrend.

From a long-term point of view, as long as the price floor is at 0.85538 feet, there is still a bullish signal and a price increase. The critical support levels in case of breaking the price floor of 0.88880 are 0.88500 and 0.87600.

During the decline since the beginning of this month, the price has stopped falling further by reaching the 50% Fibo level (from the price floor of 0.85538 to the price ceiling of 0.92435). With the formation of star candlestick patterns as well as the Inverted Hammer, it has issued a warning to weaken the downward trend.

In the daily time frame, the price is oversold and indicates the potential for correction and rise during the next candles.

If the price floor of 0.88880 is touched, the price will have the potential to rise, and in this regard, buyers will try to take the resistance level of 0.90000 and, in the next step, up to the level of 0.91400.

 

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