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- USD/CHF is in control of the bears
USD/CHF is in control of the bears
Today, the USD/CHF pair is trading down from Chf0. 9130 to Chf0.9060, reaching a low on October 27. On the hourly chart, the pair fell below the moving average line MA (200) H1 (Chf0. 9125), and on the four - hour chart-below MA (200) H4 (Chf0.9150). A break in the support of Chf0. 9030 may push the pair's decline to Chf0.9000. On the other hand, USD/CHF may still rise to Chf0. 9125-30. But most likely, finding a sell position may be a wise decision for those who want to take advantage of the stronger Swiss franc.
⦁ Resistance levels are at: Chf0.9125-30,Chf0.9170, Chf0.9210
⦁ Support levels are at: Chf0.9030, Chf0.9000, Chf0.8970
The main scenario for the pair's promotion - continuation of the downward movement to Chf0. 9030 (October 21 low) and then, maybe, to Chf0. 9000 (August 31 and September 1low)
An alternative scenario - if the chf0.9125-30 area is broken (October 28 high, session high, MA (200) H1), the pair may grow to Chf0. 9170 (October 29 high)
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