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- USD/CHF dropped to a 3-week low
USD/CHF dropped to a 3-week low
Today, the USD/CHF pair dropped from Chf0.9610 to a 3-week low of Chf0.9530. On the hourly chart, USD/CHF dropped below the moving average line MA (200) H1 (Chf0.9760) and on the four-hour chart slightly below MA (200) H4 (Chf0.9610). Technically speaking, the support of Chf0.9480 can keep prices from further decline. The upper bound of Chf0.9760-80 represents the resistance level.
⦁ Resistance levels are:Chf0.9630, Chf0.9760-80, Chf0.9870
⦁ Support levels are: Chf0.9480, Chf0.9410, Chf0.9370
The main scenario of the pair's promotion assumes a decrease in the pair to Chf0.9480 (August 17 low)
An alternative scenario assumes a breakout of the resistance of Chf0.9630 (high of the American session on September 9) and a likely increase to Chf0.9860-80 (September 8 high, MA (200) H1)
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