Technical Analysis
16.09.2020, 11:43

USD / CHF remains below MA (200) H1

Today, the USD/CHF pair is trading down from Chf0. 9095 to Chf0.9055, losing almost all the positions gained during yesterday's US trading. On the hourly chart, the pair remains below MA (200) H1 (Chf0. 9115). The situation is similar on the four-hour chart. A strong support level of Chf0. 9050 keeps USD / CHF from falling further. If it breaks through, the pair may decline to Chf0. 9000. Chf0. 9095-0.9115 represents the resistance level. If they are passed, USD/CHF may follow a correction to Chf0. 9160. The most likely range of movement of the pair today may be hidden within the range of Chf0. 9050-0.9115.

Resistance levels are at:  Chf0.9095-0.9115, Chf0.9160, Chf0.9200

Support levels are at: Chf0.9050, Chf0.9000, Chf0.8940

The main scenario for the pair's promotion - break in support of Chf0. 9050 (September 10 low), and a likely decline to Chf0.9000 (September 1 low).

An alternative scenario - breakout of the Chf0.9095-0.9115 area (September 11-14 highs, session high, MA (200) H1), and the pair's likely growth to Chf0.9160 (September 6 high).

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