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- USD/CHF continues to test the MA 200 H1 resistance
USD/CHF continues to test the MA 200 H1 resistance
Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.8955. Today it was trading within a narrow range of Chf0.8955-65, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing its resistance - the MA (200) H1 (Chf0.8930) moving average line. On the four-hour chart, it remains above the MA 200 H4 line. Based on the above, it is probably worth adhering 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 at the end of the correction.
Resistances levels are at: Chf0.8995, Chf0.9020, Chf0.9045
Support levels are at: Chf0.8945, Chf0.8910, Chf0.8875
Probably, the main scenario - is a subsequent decline to Chf0.8945 (the low of the European session on Feb 17). Alternative scenario - may be final consolidation above MA 200 H1 level, with further advance towards Chf0.9020 (Feb 8 high).
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