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- USD/CHF is trading near the lows of January 2021 goals
USD/CHF is trading near the lows of January 2021 goals
Today, the USD/CHF pair is trading in the range of Chf0.8880-0.8920 - near the January 2021 minimum of Chf0.8860, reached 10 days ago. On the hourly chart, the pair dropped below the MA (200) H1 moving average line (Chf0.8935). On the four-hour chart, the pair is trading below MA (200) H4 (Chf0.9090). Technically speaking, the support of Chf0.8860 can keep prices from further decline. The upper bound of Chf0.8930-35 represents a strong resistance level.
⦁ Resistance levels are: Chf0.8930-35, Chf0.8955, Chf0.9005
⦁ Support levels are: Chf0.8860, Chf0.8760, Chf0.8570
The main scenario for the pair's promotion assumes a breakout of support for Chf0.8860 (April 13 and 25 low) and there may be a decline to Chf0.8760 (June 6’ 2021 low)
An alternative scenario assumes a breakout of the resistance of Chf0.8930-35 (April 24-25 high, MA (200) H1) and there may be an increase in Chf0.8955 (April 21 high)
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