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- USD/CHF is trading at about 2-month low
USD/CHF is trading at about 2-month low
Today, the USD/CHF pair mainly drops from Chf0.8855 to Chf0.8810, but remains about a 2-month low. Yesterday, the pair broke through the support of Chf0.8875, which became the nearest resistance. On the hourly chart the pair traded below the line of moving average MA (200) H1 (Chf0.8950) and on a four-hour chart below MA (200) H4 (Chf0.9000). In this situation, a scenario of further decline of USD/CHF is likely. Finding a position to sell can be a wise solution for those who want to benefit from a stronger Swiss franc.
⦁ Resistance levels are: Chf0.8875, Chf0.8920, Chf0.8970
⦁ Support levels are: Chf0.8810, Chf0.8760, Chf0.8700
The basic scenario of the pair’s promotion presupposes a breakthrough of the sessional minimum Chf0.8810 and may be a decrease to Chf0.8760 (January 6’ 2021 low).
An alternative scenario suggests a breakthrough of the resistance Chf0.8875 (July 7 low) and a possible increase to Chf0.8920 (July 10 high).
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