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- USD/CHF is trading near November 2020 highs
USD/CHF is trading near November 2020 highs
Yesterday the USD/CHF traded in different directions in the range Chf0.9135-Chf0.9190 and closed the day without significant changes. Today it was trading in a narrow range of Chf0.9140-55, staying near the November 2020 highs. On the hourly chart, USD/CHF is still trading above the moving average MA (200) H1 (Chf0.9050). The situation is similar on the four-hour chart. Based on the foregoing, 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 for the formation of a correction.
Resistances levels are at: Chf0.9190, Chf0.9205, Chf0.9300
Support levels are at: Chf0.9125, Chf0.9070, Chf0.9030
Probably, the main scenario - is a further rise to Chf0.9190 (Mar 2 high). Alternative scenario - may be final consolidation below MA 200 H1, followed by a decline towards Chf0.8935 (Feb 19 low).
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