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- The USD/CHF is still testing the MA 200 H1 resistance
The USD/CHF is still testing the MA 200 H1 resistance
Yesterday the USD/CHF traded higher and closed the day in the positive territory near the price of Chf0.8985. Today it was trading in a narrow range of Chf0.8980-90, remaining close to yesterday's closing price. On the hourly chart, the USD/CHF is still testing resistance - the moving average line MA (200) H1 (Chf0.8965). On the four-hour chart, it is still below the MA 200 H4 line. 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 for selling at the end of the correction.
Resistances levels are at: Chf0.9000, Chf0.9015-25, Chf0.9055
Support levels are at: Chf0.8965, Chf0.8935-40, Chf0.8900-10
Probably, the main scenario is continued decline towards Chf0.8965 (Jul 5 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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