- Analytics
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- Technical Analysis
- USD/CHF is trading near a near 2-year high
USD/CHF is trading near a near 2-year high
Today, the USD/CHF pair is trading in the range of Chf0.9555-0.9600 - near the highs of early June 2020. On the hourly chart, the pair rose above the MA (200) H1 moving average line (Chf0.9460). The situation is similar on the four-hour chart. In this situation, a scenario of further growth of the USD/CHF pair is likely and finding a buy position may be a wise decision for those who want to take advantage of a stronger US dollar.
It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: Chf0.9600, Chf0.9650, Chf0.9720-35
⦁ Support levels are: Chf0.9530, Chf0.9455-60, Chf0.9410
The main scenario for the pair's promotion — breakout of the session maximum of Chf0.9600 and there may be an increase to Chf0.9650 (May 29’ 2020, June 3 and 5’ 2020 lows)
An alternative scenario — support breakout is Chf0.9530 (April 22 high) and there may be a decline to Chf0.9455-60 (April 20-21 high, MA (200) H1)
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