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- USD / CHF pair fell below MA (200) H1
USD / CHF pair fell below MA (200) H1
Today, the USD/CHF pair declined from Chf0. 8990 to a weekly low of Chf0.8930 and fell below the MA (200) H1 moving average line (Chf0.8965). On the four-hour chart, the pair remains above MA (200) H4 (Chf0. 8890). In this situation, it is probably worth sticking to the north direction in trading and looking for exit points to buy. Technically speaking, a strong support level of Chf0. 8875 may keep the pair from further declining. MA (200) H1 (Chf0.8965) represents the resistance level. If this level is passed, the prices will follow the correction to Chf0. 9020.
⦁ Resistance levels are: Chf0.8965, Chf0.9020, Chf0.9045
⦁ Support levels are: Chf0.8930, Chf0.8875, Chf0.8840
The main scenario for the pair's promotion - breakout of the session low of Chf0. 8930 and may be a decline to Chf0. 8875 (January 29 high)
An alternative scenario - correction, breakout of MA (200) H1 (Chf0. 8965) and may be an increase to Chf0. 9020 (February 8 high)
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