USDCHF Extends Its Bearish Run

USDCHF Sellers Aim for More Dives

USDCHF price extends its bearish run as the pair continues its downward trajectory, with sellers maintaining a strong grip on the market. The pair has been forming lower highs, indicating a persistent bearish bias. The current focus is on the $0.87300 support level, which could be breached if selling pressure intensifies.

USDCHF Key Levels

Resistance Levels: 0.95100, 0.89400
Support Levels: 0.87300, 0.85600

After failing to sustain a rally above the $0.88130 resistance level, the USDCHF pair resumed its downward movement. The $0.87300 level now represents a crucial support zone. A breakdown below this level could accelerate the bearish trend and open the door for further declines.

Both the RSI and Money Flow Index are pointing towards a bearish market. The RSI is in oversold territory, suggesting potential exhaustion among sellers, but it may also indicate further downside potential. The Money Flow Index confirms the bearish sentiment, as negative outflows continue to dominate.

As a result of the prevailing bearish conditions, a cautious approach is recommended. It is essential to monitor the $0.87300 support level closely, as a breakdown could accelerate the downward momentum.

Market Expectation

In the short term, the pair remains firmly in bearish territory. The breakdown of the $0.87300 support level could intensify selling pressure.

The RSI indicator still establishes a threat as sellers seek to push lower. The Money Flow Index is also signaling a sell motion, giving sellers an advantage. This highlights the current bearish sentiment in the market. For those using forex signals, paying attention to these key levels and indicators is crucial for making informed trading decisions.

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