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- The USD/CHF is testing the MA 200 H1 resistance
The USD/CHF is testing the MA 200 H1 resistance
Yesterday the USD/CHF was trading higher and closed the day in positive territory around the Chf0.8980. Today it was trading in a narrow range of Chf0.8975-90, staying close to Friday's close. On the hourly chart, USD/CHF is testing resistance - the MA (200) H1 (Chf0.8980) moving average line. On the four-hour chart, it remains below 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 at the end of the correction.
Resistances levels are at: Chf0.9010, Chf0.9050, Chf0.9090-00
Support levels are at: Chf0.8960, Chf0.8925-35, Chf0.8900
Probably, the main scenario is a subsequent decline to Chf0.8960 (low of the American session on Jun 11). Alternative scenario is consolidation above MA 200 H1, with further advance towards Chf0.9050 (Jun 4 high).
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