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- USD/CHF is testing MA 200 H1 resistance
USD/CHF is testing MA 200 H1 resistance
Yesterday, the USD/CHF was trading sharply higher and closed the day in positive territory around the Chf0.9135. Today it was trading in a narrow range of Chf0.9115-40, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing its resistance - the MA (200) H1 (Chf0.9110) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the above, it is probably worth sticking 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 at the end of the correction.
Resistances levels are at: Chf0.9170, Chf0.9195-05, Chf0.9240
Support levels are at: Chf0.9055, Chf0.8985, Chf0.8900
Probably, the main scenario - is a subsequent decline to Chf0.9055 (Nov 9 low). Alternative scenario - may be final consolidation above MA 200 H1 level, with further advance towards Chf0.9195 (Nov 4 high).
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