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- USD/CHF is trading near the highs of December 2019
USD/CHF is trading near the highs of December 2019
Today, the USD/CHF pair is trading mainly with an increase in the range of Chf0.9910-75 - near the highs of December 2019. On the hourly chart, the pair remains above the moving average line MA (200) H1 (Chf0.9805) and on the four-hour chart - above MA (200) H4 (Chf0.9495). Technically speaking, the resistance of Chf1.0010-1.0025 can keep prices from rising further. The lower bound of Chf0.9805-30 represents the support level.
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: Chf0.9975, Chf1.0010-1.0025, Chf1.0120
⦁ Support levels are: Chf0.9805-30, Chf0.9710, Chf0.9670
The main scenario for the pair's promotion — breakout of the session maximum of Chf0.9975 and there may be an increase to Chf1.0010-1.0025 (November 28 and December 2’ 2019 highs)
An alternative scenario — resistance breakout is Chf0.9805-30 (May 6 low, MA (200) H1) and there may be a decline to Chf0.9710 (May 5 low)
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