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- USD/CHF is trading near a monthly low
USD/CHF is trading near a monthly low
Today, the USD/CHF pair is trading mainly with an increase in the range of Chf0.9600-45 after falling yesterday to a monthly low of Chf0.9575. On the hourly chart, USD/CHF dropped below the moving average line MA (200) H1 (Chf0.9830) and on the four-hour chart - slightly below MA (200) H4 (Chf0.9680). Technically speaking, the support of Chf0.9565-75 can keep prices from further decline. The upper bound of Chf0.9765 represents the resistance level.
⦁ Resistance levels are: Chf0.9670, Chf0.9765, Chf0.9880
⦁ Support levels are: Chf0.9565-75, Chf0.9530, Chf0.9455
The main scenario for the pair's promotion — support breakthrough of Chf0.9565-75 (April 26 and May 24 lows) and may be a decline to Chf0.9455 (April 20-21 low)
An alternative scenario — resistance breakout is Chf0.9670 (May 24 high) and there may be an increase to Chf0.9765 (May 20 high)
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