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- USD/CHF is testing support for MA 200 H1
USD/CHF is testing support for MA 200 H1
Yesterday the USD/CHF traded in different directions in the range Chf0.8980-Chf0.9020 and closed the day without significant changes. Today it dropped slightly, dropping to Chf0.8960. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.8960) moving average line. On the four-hour chart, it remains above the MA 200 H4 line for now. 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: Chf0.9020, Chf0.9045, Chf0.9090
Support levels are at: Chf0.8945, Chf0.8915, Chf0.8870
Probably, the main scenario - is a further advance towards Chf0.9020 (Feb 8 high). Alternative scenario - may be final consolidation below MA 200 H1, followed by a decline towards Chf0.8870 (Jan 28 low).
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