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- USD/CHF fell to the lows of January 2021
USD/CHF fell to the lows of January 2021
Today, the USD/CHF pair is trading in the Chf0.8765-90 range, having reached the lows of January 2021. This week, the pair broke the support at Chf0.8875, which was the nearest resistance. On the hourly chart, the pair is trading below the MA (200) H1 moving average line (Chf0.8925) and on the four-hour chart below the MA (200) H4 (Chf0.8990). In this situation, the scenario of further decline in USD/CHF pair is likely. Finding a sell position may be a wise decision for those who want to benefit from a stronger Swiss Franc.
⦁ Resistance levels are: Chf0.8875, Chf0.8920-25, Chf0.8970
⦁ Support levels are: Chf0.8760, Chf0.8700, Chf0.8570
The main scenario for the pair suggests a decline to Chf0.8760 (January 6’ 2021 low) and then, maybe, to the psychological level of Chf0.8700.
The alternative scenario suggests a break of the resistance at Chf0.8875 (July 7 low) and maybe a rise to Chf0.8920-25 (high on 10 July, МА (200) Н1).
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