Technical Analysis
14.01.2021, 05:40

USD/CHF remains above MA 200 H1

Yesterday the USD/CHF traded in different directions in the range of Chf0.8850-85 and closed the day without significant changes. Today it also traded in a narrow range of Chf0.8865-90, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the MA line (200) H1 (Chf0.8840). On the four-hour chart, the USD/CHF remains below the MA 200 H4 line. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the USD/CHF remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

  • Resistances levels are at: Chf0.8915-20, Chf0.8945, Chf0.9010

  • Support levels are at: Chf0.8850, Chf0.8820, Chf0.8785

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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