MarketDeal24.Com – The price was in the support area at 0.9075-0.9088 yesterday by breaking 0.91 in the four hour time frame. This morning, the buyers raised the price from the support area to north of 0.91. There is no resistance until the trend line resistance is taken from the maximum 0.9295 and the price goes to the November opening level 0.9161.
Weekly time frame support is 0.9014, which is in conjunction with ABCD support 0.9051 (black arrows). If the price continues to rise, the resistance will target 0.9255. 0.9255 is the next upward target if buyers can take over the market, with a 38.2% Fibonacci retracement ratio of 0.9388. It should be kept in mind that the market has been declining since April 2019.
In the daily time frame we are following the price recovery from Quasimodo support 0.9009 and currently the resistance is matched with 0.9187 USD/CHF pair. On top of this the weekly traders are looking to move the market upwards where there is a trend line resistance starting from a maximum of 0.9901, which in turn is combined with the weekly resistance of 0.9255.
Buyers are looking at 0.91 and four-hour support at 0.9075-0.9088 as the weekly price has risen from 0.9014.