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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 with a decrease from Chf0.9645 to Chf0.9555, having lost some positions gained on Tuesday. The pair is trading near a monthly low. On the hourly chart, USD/CHF remains below the moving average line of MA (200) H1 (Chf0.9685) and on the four-hour chart, it tests MA (200) H4 (Chf0.9615). Technically speaking, the support of Chf0.9480 can keep prices from further decline. The upper bound of Chf0.9870 represents the resistance level.
⦁ Resistance levels are: Chf0.9645, Chf0.9780, 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 13 low) and then, maybe, to Chf0.9410 (August 12-15 low)
An alternative scenario assumes a breakout of the session maximum of Chf0.9645 and a likely increase to Chf0.9780 (September 8 high)
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