USDCHF Analysis – The Price Remains Above the 0.95300 Significant Level
USDCHF remains very resilient to stay above the 0.95300 significant level. The tussle between buyers and sellers rages on as USDCHF tries to establish itself above 0.95300. Downward forces keep beating against the market yet it remains very resilient to stay above. The currency pair just survived another dip two days ago on the 13th of September.
USDCHF Significant Levels
Resistance Levels: 1.00000, 0.98000
Support Levels: 0.95300, 0.93770
Just like it happened when the market was below 0.95300, there is always a tendency for the price to be dragged lower than the desired level. But the persistence of the buyers paid off and the market eventually rose above 0.95300. It is more or less the same situation but this time above the 0.95300 level which was formerly a resistance level. The key level remains formidable for the price to stay afloat.
On the 11th of August, there was a scare as the strain on the market caused it to fall below 0.95300 now as support. It was quickly dealt with by the buyers who gained strength from another major support lying at 0.93770. Another similar scare but lesser in intensity happened twice days ago. Once again, the price has recovered. The candles have traded above the MA period 35 for more support going upward.
The ATR (Average True Range) indicator on the daily chart shows that there was a spike in volatility for USDCHF to overcome its plunge into 0.95300 significant level on both occasions. This is demonstrated much more on the 4-hour ATR chart, showing several upward volatility spikes. However, in the short term, the market is still below the MA period 35 and moving above it will confirm the successful recovery of the price above the 0.95300 level. Buyers will try to push to reach 1.00000
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