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- USD/CHF is trading near 2015 lows
USD/CHF is trading near 2015 lows
Yesterday the USD/CHF traded in different directions in the range Chf0.8760-Chf0.8820 and closed the day without significant changes. Today it was trading in a narrow range of Chf0.8775-90, staying near the 2015 lows. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.8835). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering 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 to form a correction.
Resistances levels are at: Chf0.8820, Chf0.8855, Chf0.8875
Support levels are at: Chf0.8760, Chf0.8700, Chf0.8600
Probably, the main scenario - is a subsequent decline to Chf0.8760 (Jan 6 low). Alternative scenario - may be consolidation above MA 200 H1, with further advance towards Chf0.8915 (Dec 28 high).
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