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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 again from Chf0. 8855 to Chf0.8825 and is trading near a new multi-year low of Chf0.8820, reached yesterday. On the hourly chart, the pair is trading below the moving average line MA (200) H1 (Chf0. 8870) and on the four - hour chart-below MA (200) H4 (Chf0.9020). 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: Chf0.8855-70, Chf0.8890, Chf0.8915
⦁ Support levels are: Chf0.8820, Chf0.8800, Chf0.8700
The main scenario for the pair's promotion - breaking yesterday's low of Chf0. 8820 and continuing the downward movement to the psychological level of Chf0. 8800
An alternative scenario - if the resistance of Chf0. 8855-70 is broken (December 17 high, session high, MA (200) H1), then the pair is likely to grow to Chf0. 8890 (December 16 high)
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