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- USD/CHF is trading near a 6-week high
USD/CHF is trading near a 6-week high
Today, the USD/CHF pair is growing from Chf0.9725 to Chf0.9800, reaching a 6-week high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Chf0.9655) and on the four-hour chart - above MA (200) H4 (Chf0.9595). In this situation, the scenario of further growth of the USD/CHF pair is likely. Finding a buy position can be a wise decision for those who want to take advantage of a stronger US dollar.
⦁ Resistance levels are: Chf0.9840, Chf0.9885, Chf0.9990
⦁ Support levels are: Chf0.9725, Chf0.9655, Chf0.9570-75
The main scenario of the pair's advance assumes the continuation of the upward movement to Chf0.9840 (July 21 high) and then, maybe, to Chf0.9885 (July 14 high)
An alternative scenario implies a breakout of the session minimum of Chf0.9725 and a decline of the pair to Chf0.9655 (August 29 low, MA (200) H1)
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