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- The USD/CHF continued yesterday's growth
The USD/CHF continued yesterday's growth
Yesterday the USD/CHF traded higher and closed the day in positive territory near the price of Chf0.9775. Today it has also grown a little, rising to the level of Chf0.9810. On the hourly chart, USD/CHF is still trading above the moving average MA (200) H1 (Chf0.9670). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the USD/CHF remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: Chf0.9810-20, Chf0.9840, Chf0.9885
Support levels are at: Chf0.9725-35, Chf0.9660-65, Chf0.9625
Probably, the main scenario is the subsequent growth to Chf0.9810 (session high).
An alternative scenario is a consolidation below the MA 200 H1 level, followed by a fall towards Chf0.9555 (Aug 19 low).
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