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- USD / CHF is trading near a multi-year low
USD / CHF is trading near a multi-year low
Today, the USD/CHF pair fell from Chf0. 8860 to a new multi-year low of Chf0.8830. On the hourly chart, the pair is trading below the moving average line MA (200) H1 (Chf0. 8885) and on the four - hour chart-below MA (200) H4 (Chf0.9040). Based on this, finding a sell position can probably be a wise decision for those who want to take advantage of the stronger Swiss franc. It is worth noting that the 14-day relative strength index (RSI (14) on D1) is below the level of 30, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: Chf0.8880-85, Chf0.8915, Chf0.8945
⦁ Support levels are: Chf0.8830, Chf0.8800, Chf0.8700
The main scenario for the pair's promotion - breakout of the session low Chf0. 8830 and continuation of the downward movement to the psychological level Chf0. 8800
An alternative scenario - if the resistance of is broken Chf0.8880-85 (December 15 high, MA (200) H1), then the pair is likely to grow to Chf0. 8915 (December 8-9 high)
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