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- USD/CHF remains above MA 200 H1
USD/CHF remains above MA 200 H1
Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.8860. Today it traded in a narrow range of Chf0.8850-65, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the MA line (200) H1 (Chf0.8835). On the four-hour chart, it remains below the MA 200 H4 line. Based on the foregoing, it is probably worth sticking to the north direction in trading and while the USD/CHF remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.
Resistances levels are at: Chf0.8915-20, Chf0.8945, Chf0.9010
Support levels are at: Chf0.8820, Chf0.8785, Chf0.8760
Probably, the main scenario - is a further rise towards Chf0.8915 (Jan 12 high). Alternative scenario - may be final consolidation below MA 200 H1, followed by a decline towards Chf0.8760 (Jan 6 low).
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