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- The USD/CHF broke through and consolidated below the MA (200) H1
The USD/CHF broke through and consolidated below the MA (200) H1
Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.8900. Today it was trading in a narrow range of Chf0.8895-05, staying close to yesterday's closing price. On the hourly chart, USD/CHF has broken through and consolidated below the MA line (200) H1 (Chf0.8970). 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 south direction in trading, and while the USD/CHF remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.
Resistances levels are at: Chf0.8945, Chf0.8965, Chf0.9020
Support levels are at: Chf0.8865-75, Chf0.8840-45, Chf0.8825
Probably, the main scenario - is a subsequent decline to Chf0.8875 (Jan 29 low). Alternative scenario - may be final consolidation above MA 200 H1 level, with further advance towards Chf0.9045 (Feb 5 high).
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