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- USD/CHF declined sharply, reaching a 2-week low
USD/CHF declined sharply, reaching a 2-week low
Today, the USD/CHF pair has sharply declined from Chf0.9885 to Chf0.9750, reaching a 2-week low. The pair broke through the support of Chf0.9830, which became the nearest resistance. On the hourly chart, USD/CHF has fallen below the moving average line of MA (200) H1 (Chf0.9960), but on the four-hour chart it remains significantly above MA (200) H4 (Chf0.9640). Technically speaking, the support of Chf0.9710 can keep prices from further decline. The upper bound of Chf0.9960-85 represents the resistance level.
⦁ Resistance levels are: Chf0.9830, Chf0.9960-85, Chf1.0065
⦁ Support levels are: Chf0.9710, Chf0.9670, Chf0.9565
The main scenario for the pair's promotion — the pair may grow to Chf0.9960-85 (May 18 high, MA (200) H1)
An alternative scenario — support breakout of Chf0.9710 (May 5 low) and there may be a decline to Chf0.9670 (April 29 low)
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