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- USD/CHF tests the resistance of MA (200) H1 for strength
USD/CHF tests the resistance of MA (200) H1 for strength
Today, the USD/CHF pair is trading in the range of Chf0.9165-0.9200, having reached a monthly low of Chf0.9160 yesterday. On the hourly chart, the pair tests the resistance of MA (200) H1 (Chf0.9200) for strength and on the four-hour chart, the pair remains below MA (200) H4 (Chf0.9240). Technically speaking, the decline of Chf0.9200 kept USD/CHF from further growth. If it breaks through, prices may rise to Chf0.9220. The lower bound of Chf0.9160 represents the support level. The most probable range of the pair's movement today may be hidden within the range of Chf0.9160-0.9220.
⦁ Resistance levels are: Chf0.9200, Chf0.9220, Chf0.9255
⦁ Support levels are: Chf0.9160, Chf0.9100, Chf0.9085
The main scenario for the pair's promotion — support breakthrough of Chf0.9160 (November 30 and December 28 low) and there may be a decline to Chf0.9100 (November 1-2 and 9-10 low)
An alternative scenario — if the resistance of Chf0.9200 (December 27 high, session maximum, MA (200) H1) is broken, then the pair can rise to Chf0.9220 (December 23 high)
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