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- USD/CHF is trading near a two-month high
USD/CHF is trading near a two-month high
Today, the USD/CHF pair continues the growth started last week and rose to a two-month high of Chf0.9285. On the hourly chart, the pair fixed above the MA (200) H1 moving average line (Chf0.9150), indicating a possible transition to bear control. In this situation, it may be worth starting to stick to the North direction in trading and start looking for exit points to buy. Strong resistance of Chf0.9300 may keep USD/CHF from further growth. If this level is passed, the pair can rise to Chf0.9350. The session minimum of Chf0.9250 represents the support level. If it is passed, the pair may follow a correction to Chf0.9190 the most likely range of movement of the pair today may be hidden within the range of Chf0.9250-0.9300.
⦁ Resistance levels are at: Chf0.9300, Chf0.9350, Chf0.9410
⦁ Support levels are at: Chf0.9250, Chf0.9190, Chf0.9135-50
The main scenario for the pair's promotion - continuation of the upward movement to Chf0.9300 (July 23 high), and then the pair is likely to grow to Chf0.9350 (July 22 high)
An alternative scenario - breakout of the session low of Chf0.9250 and probable decline of the pair to Chf0.9190 (September 23 low).
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