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- USD/CHF pair dropped below the MA (200) H1
USD/CHF pair dropped below the MA (200) H1
Today, the USD/CHF pair is mostly rising from Chf0.8985 to Chf0.9025 after yesterday's decline to a 2-week low. On the hourly chart the pair dropped below the MA (200) H1 moving average line (Chf0.9070) and on the four-hour chart the pair is testing the MA (200) H4 (Chf0.8985). Technically speaking, the support of Chf0.8985 may keep prices from declining. The upper boundary of Chf0.9110-20 represents a resistance level.
⦁ Resistance levels are: Chf0.9070, Chf0.9110-20, Chf0.9150
⦁ Support levels are: Chf0.8985, Chf0.8940, Chf0.8900
The main scenario assumes a breakthrough of the session low of Chf0.8985 and may be down to Chf0.8940 (May 22 low)
Alternative scenario assumes a breakthrough of the MA (200) H1 (Chf0.9070) and growth to Chf0.9110-20 (June 5 and 7-8 high)
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