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- The USD / CHF pair is trading near a three-week high
The USD / CHF pair is trading near a three-week high
Today, the USD/CHF pair is trading in the range of Chf0. 9165-90-near a three-week high. On the hourly chart, the pair remains above the moving average line MA (200) H1 (Chf0.9095), and on the four - hour chart-slightly above MA (200) H4 (Chf0.9145). If the pair consolidates above these levels, a new uptrend is likely to start forming. The session high of Chf0. 9190 and the resistance of Chf0.9195 may keep USD/CHF from further growth. If these levels break through, the pair is likely to grow to Chf0. 9220. The lower bound of Chf0. 9140 represents the support level. If this level is passed, the price may follow a correction to Chf0. 9085-95. The most likely range of price movements to date may be hidden within the existing range of Chf0. 9140-95.
⦁ Resistance levels are at: Chf0.9190-95, Chf0.9220, Chf0.9245
⦁ Support levels are at: Chf0.9140, Chf0.9085-95, Chf0.9060
The main scenario for the pair's promotion - correction, breakout of support for Chf0. 9140 (October 30 low) and maybe a decline to Chf0. 9085-95 (October 28-29 lows, MA (200) H1)
An alternative scenario - if the session high of Chf0.9190 breaks and the resistance of Chf0.9195 (October 8 high), the pair may grow to Chf0. 9220 (October 2 high)
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