Technical Analysis
16.09.2020, 04:47

USD/CHF remains below MA 200 H1

Yesterday the USD/CHF traded in different directions in the range of Chf0.9050-85 and closed the day without significant changes. Today it also traded in a narrow range of Chf0.9075-95, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9115). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering to the south direction in trading and while the USD/CHF remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.

  • Resistances levels are at: Chf0.9105-15, Chf0.9135, Chf0.9190-00

  • Support levels are at: Chf0.9050, Chf0.9000, Chf0.8900

Probably, the main scenario - is a subsequent decline to Chf0.9050 (Sep 15 low). Alternative scenario - may be consolidation above MA 200 H1, with further advance towards Chf0.9190 (Sep 9 high).

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