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- USD/CHF continues to test support for MA 200 H1
USD/CHF continues to test support for MA 200 H1
The USD/CHF was trading lower yesterday and closed the day in the red around the Chf0.8865. Today it was trading in a narrow range of Chf0.8860-70, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.8880) moving average line. On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, 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: Chf0.8895, Chf0.8920-25, Chf0.8945
Support levels are at: Chf0.8840-50, Chf0.8820, Chf0.8785
Probably, the main scenario - is a further rise to Chf0.8895 (Jan 26 high). Alternative scenario - may be final consolidation below MA 200 H1, followed by a decline towards Chf0.8850 (Jan 25 low).
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