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- The USD/CHF is trading below the MA 200 H1 again
The USD/CHF is trading below the MA 200 H1 again
On Friday, the USD/CHF traded lower and closed the day in the red near the price of Chf0.8950. Today it was trading in a narrow range of Chf0.8950-55, staying close to Friday's closing price. On the hourly chart, USD/CHF is again trading below the MA (200) H1 (Chf0.8960) moving average line. The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the USD/CHF remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Resistances levels are at: Chf0.9015-25, Chf0.9055, Chf0.9075
Support levels are at: Chf0.8930-35, Chf0.8900-10, Chf0.8870
Probably, the main scenario is continued decline towards Chf0.8935 (Jun 30 low).
The alternative scenario is the final consolidation above the MA 200 H1 level, followed by growth to Chf0.9070 (the high of the American session on Jun 13).
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